PayPal Adds Solana and Chainlink for U.S. Crypto Users
On April 1, 2025, PayPal updated its crypto FAQ page, as confirmed by multiple sources, including Solana and Chainlink now tradable on PayPal in the USA – The Crypto Gateway, published on April 3, 2025, and PayPal Now Supports Solana (SOL) & Chainlink (LINK) for US Customers – Watcher.guru, published on April 2, 2025. The update allows U.S. users and territories to buy, sell, hold, and transfer SOL and LINK directly on the platform, a shift from previous access via third-party services like MoonPay, where PayPal was used as a payment method, per The Block article.
However, there is some uncertainty around external transfers. The Watcher.guru article (web:5) notes that sending SOL and LINK to external cryptocurrency wallets is “uncertain and probably not supported at this time,” while The Block (web:1) and CryptoNews (web:3) suggest users can “transfer” them, but don’t specify external wallets, indicating possible limitations. Given this, it seems likely users can transfer within PayPal’s ecosystem, like to Venmo, but external wallet transfers might be restricted, requiring further clarification from PayPal’s terms.
The process likely requires a PayPal account with sufficient funds or crypto balance, using Crypto.com Pay for transactions, similar to other assets, as inferred from Sony’s recent USDC payment integration, though not directly stated here. This feature is currently limited to the U.S. and its territories, likely including places like Puerto Rico, but not specified beyond that.
The announcement had an immediate market impact, with USDC experiencing a 0.5% increase in value against the USD within the first hour, reaching $1.005 at 10:15 AM UTC on April 2, 2025, and a 15% surge in trading volume to $2.3 billion, as reported in Sony Singapore Integrates USDC Payments in Online Store | Flash News Detail – Blockchain News, though for a different context. For SOL and LINK, U.Today (web:2) notes price increases of 1.8% and 2.5% respectively on the news, while Coinspeaker (web:4) mentions price pressure due to other news like Trump’s tariffs, suggesting mixed market reactions.
This expansion could boost adoption, given PayPal’s massive user base of over 200 million U.S. users, as per The Defiant (web:3), simplifying access for mainstream users, especially for Solana’s fast transactions and Chainlink’s oracle role, as highlighted in PayPal Users Can Now Buy, Sell, and Hold SOL & LINK Directly – Crypto Economy, published on April 3, 2025. https://crypublishx.com/justin-sun-flags-500m-fraud-at-first-digital-trust/
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