{"id":126487,"date":"2025-04-04T17:16:13","date_gmt":"2025-04-04T17:16:13","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126487"},"modified":"2025-04-04T17:16:13","modified_gmt":"2025-04-04T17:16:13","slug":"paypal-venmo-to-roll-out-solana-chainlink-transfers","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126487","title":{"rendered":"PayPal, Venmo to roll out Solana, Chainlink transfers"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsGlobal payments platform PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular tokens.\u00a0<br \/>\nSupport 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 on April 4.\u00a0<br \/>\nSource: CointelegraphRoughly 83 million people used Venmo at least once in 2023, according to the latest available information from PayPal.\u00a0<br \/>\nPayPal\u2019s global reach extends to roughly 428 million accounts as of December, the majority of which are in the United States.\u00a0<br \/>\nThe company\u2019s crypto services are available only to US residents.\u00a0<br \/>\nPayPal is expanding its crypto offerings in response to growing consumer demand, according to May Zabaneh, an executive in PayPal\u2019s crypto and blockchain division.<br \/>\n\u201cOffering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies,\u201d she said.<br \/>\nPayPal\u2019s US crypto offerings now include seven digital assets in total, including its payment stablecoin PayPal USD (PYUSD).<br \/>\nRelated: Tabit offers USD insurance policies backed by Bitcoin regulatory capital<br \/>\nPayPal\u2019s stablecoin push<br \/>\nThe launch of PYUSD in 2023 solidified PayPal\u2019s entry into the cryptocurrency market. Roughly one year after its launch, PYUSD surpassed $1 billion in total market capitalization for the first time.\u00a0<br \/>\nSince then, PYUSD\u2019s circulating supply has fallen to around $760 million, according to industry data.\u00a0<br \/>\nPayPal\u2019s US dollar-pegged stablecoin peaked at a market cap of more than $1 billion in August 2024. Source: DefiLlamaTo demonstrate the utility of PYUSD, PayPal settled an invoice with global consulting firm Ernst &amp; Young in October for an undisclosed amount.\u00a0\u00a0<br \/>\nAt 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.<br \/>\nDespite PYUSD\u2019s modest circulating supply compared to stablecoin leaders USDt (USDT) and USDC (USDC), the company\u2019s involvement in the sector cannot be understated, according to Polygon Labs CEO Marc Boiron.<br \/>\nIn an interview with Cointelegraph, Boiron credited companies like PayPal and Stripe for catalyzing stablecoin adoption at a time when regulators and enterprises were still uncertain about the technology.<br \/>\nMagazine: Unstablecoins: Depegging, bank runs and other risks loom<a href=\"https:\/\/cointelegraph.com\/news\/paypal-venmo-solana-chainlink?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsGlobal payments platform PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126487"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126487"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126487\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126487"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}