{"id":20659,"date":"2025-04-04T17:01:35","date_gmt":"2025-04-04T17:01:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20659"},"modified":"2025-04-04T17:01:35","modified_gmt":"2025-04-04T17:01:35","slug":"paypal-venmo-to-roll-out-solana-chainlink-transfers","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20659","title":{"rendered":"PayPal, Venmo to roll out Solana, Chainlink transfers"},"content":{"rendered":"
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\"PayPal,<\/p>\n

Global payments platform PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK<\/a>) and Solana (SOL<\/a>), giving US-based users the ability to buy, sell and transfer the popular tokens.\u00a0<\/p>\n

Support for LINK and SOL will be rolled out over the next few weeks and will also be extended to users of Venmo, a US mobile payment platform owned by PayPal, the company disclosed<\/a> on April 4.\u00a0<\/p>\n

\"PayPal,
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Source: <\/em>Cointelegraph<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Roughly 83 million people used Venmo at least once in 2023, according to the latest available information from PayPal.\u00a0<\/p>\n

PayPal\u2019s global reach extends to roughly 428 million accounts as of December, the majority of which are in the United States.\u00a0<\/p>\n

The company\u2019s crypto services are available only to US residents.\u00a0<\/p>\n

PayPal is expanding its crypto offerings in response to growing consumer demand, according to May Zabaneh, an executive in PayPal\u2019s crypto and blockchain division.<\/p>\n

\u201cOffering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies,\u201d she said.<\/p>\n

PayPal\u2019s US crypto offerings now include seven digital assets in total, including its payment stablecoin PayPal USD (PYUSD<\/a>).<\/p>\n

Related: <\/strong><\/em>Tabit offers USD insurance policies backed by Bitcoin regulatory capital<\/strong><\/em><\/a><\/p>\n

PayPal\u2019s stablecoin push<\/h2>\n

The launch of PYUSD in 2023 solidified PayPal\u2019s entry into the cryptocurrency market. Roughly one year after its launch, PYUSD surpassed $1 billion<\/a> in total market capitalization for the first time.\u00a0<\/p>\n

Since then, PYUSD\u2019s circulating supply has fallen to around $760 million, according to industry data.\u00a0<\/p>\n

\"PayPal,
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PayPal\u2019s US dollar-pegged stablecoin peaked at a market cap of more than $1 billion in August 2024. Source: <\/em>DefiLlama<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

To demonstrate the utility of PYUSD, PayPal settled an invoice<\/a> with global consulting firm Ernst & Young in October for an undisclosed amount.\u00a0\u00a0<\/p>\n

At the time, PayPal\u2019s senior vice president of blockchain, Jose Fernandez da Ponte, said \u201cThe enterprise environment is very well-suited\u201d for stablecoin payments. <\/p>\n

Despite PYUSD\u2019s modest circulating supply compared to stablecoin leaders USDt (USDT<\/a>) and USDC (USDC<\/a>), the company\u2019s involvement in the sector cannot be understated, according to Polygon Labs CEO Marc Boiron.<\/p>\n

In an interview with Cointelegraph<\/a>, Boiron credited companies like PayPal and Stripe for catalyzing stablecoin adoption at a time when regulators and enterprises were still uncertain about the technology. <\/p>\n

Magazine: <\/strong><\/em>Unstablecoins: Depegging, bank runs and other risks loom<\/strong><\/em><\/a><\/p>\n