- PayPal expands crypto support to include Solana (SOL) and Chainlink (LINK) for U.S. users, with some limitations.
- Solana and Chainlink are now available for buying, selling, and holding on PayPal, but external transfers are not yet supported.
PayPal has broadened its cryptocurrency offerings by adding Solana (SOL) and Chainlink (LINK) to its supported digital assets for U.S. customers and territories. This expansion brings the total number of supported cryptocurrencies to seven, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and PayPal USD (PYUSD).
While the addition of SOL and LINK represents a step forward for PayPal’s crypto services, certain restrictions still apply. Specifically, users can buy, sell, and hold these assets, but Solana and Chainlink have not yet supported external transfers.
Solana and Chainlink Join PayPal’s Crypto Lineup
PayPal’s move to include Solana and Chainlink marks a notable shift in its approach to supporting digital assets. The company first ventured into cryptocurrency services in 2020, initially offering only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
[🌲] PayPal Adds Solana (SOL) and Chainlink (LINK) for Customers in the U.S. and U.S. Territories.
— Tree News (@TreeNewsFeed) April 2, 2025
The launch of PayPal USD (PYUSD) in 2023 further expanded the platform’s crypto ecosystem, which already provided support for a range of popular digital currencies.
While Solana and Chainlink were previously available for purchase through a partnership with MoonPay, users can now directly buy, sell, and hold these tokens within PayPal itself. This marks the first time that U.S. customers can engage with these assets on PayPal without relying on third-party services.
External Transfers Not Yet Supported for Solana and Chainlink
Although PayPal now allows users to manage Solana and Chainlink directly on its platform, there are still limitations when it comes to transferring these assets outside the PayPal ecosystem.
As of now, PayPal has not confirmed whether users will be able to send Solana and Chainlink to external crypto wallets. In contrast, external transfers are supported for other assets like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and PayPal’s stablecoin, PYUSD.
The inability to send SOL and LINK to external wallets is likely a temporary restriction. For now, users who want to move these assets outside PayPal will need to explore other options, such as utilizing third-party exchanges or wallet services.
PayPal’s decision to support Solana and Chainlink comes at a time when new pro-crypto leadership in the U.S. could benefit these assets. Notably, SEC staffers have acknowledged Solana’s growing prominence, with multiple filings for spot Solana exchange-traded funds (ETFs) in recent months.
Furthermore, Chainlink co-founder Sergey Nazarov attended the first White House digital asset summit in March, signaling broader institutional acceptance of the asset.
Expanding Crypto Options for U.S. Businesses and Merchants
Along with expanding support for Solana and Chainlink for individual users, PayPal has also rolled out new features for U.S. businesses. In late 2024, PayPal began allowing U.S.-based merchants to buy, sell, and hold cryptocurrency directly through their business accounts.
This functionality also includes the ability to send and receive tokens on-chain, which could pave the way for wider cryptocurrency adoption among businesses. Notably, this update did not initially include New York State.
The Securities and Exchange Commission (SEC) has scrutinized Solana in the past over concerns about its status as an unregistered security. However, the SEC dropped its lawsuit against Coinbase and paused litigation involving Binance. These changes suggest a more favorable regulatory environment for crypto assets like Solana and Chainlink.
As a result of this news, Solana and Chainlink saw slight value increases, with SOL rising by 1.8% and LINK up by 2.5%.
