The Global PayPal Payment Payment platform has expanded its cryptocurrency offers to include ChainLink (Link) and Solana (ground), giving American users the opportunity to buy, sell and transfer popular tokens.
The care of Link and Sol will be deployed in the coming weeks and will also be extended to Veno users, an American mobile payment platform belonging to Paypal, revealed the company on April 4.
Source: Cointelegraph
About 83 million people used VenMo at least once in 2023, according to the latest available information from Paypal.
Paypal’s global scope covers around 428 million accounts in December, the majority of which are in the United States.
The company’s cryptography services are only available for American residents.
Paypal extends its crypto offers in response to the growing demand for consumers, according to May Zabaneh, a framework of the Crypto and Blockchain division of Paypal.
“Offer more tokens on Paypal and Venmo offers users greater flexibility, choice and access to digital currencies,” she said.
Paypal crypto offers now include seven digital assets in total, including its Paypal USD (Pyusd) payment payment.
In relation: Tabit offers USD insurance policies supported by Bitcoin Regulatory Capital
Pushing Paypal station
The launch of Pyusd in 2023 solidified Paypal’s entry into the cryptocurrency market. About a year after its launch, Pyusd exceeded $ 1 billion in total market capitalization for the first time.
Since then, the Pyusd circulation offer fell to around $ 760 million, according to industry data.
Paypal Stablecoin in Paypal culminated in a market capitalization of more than a billion dollars in August 2024. Source: Defillama
To demonstrate the usefulness of Pyusd, Paypal paid an invoice with the World Consulting Company Ernst & Young in October for an undisclosed amount.
At the time, Paypal’s main vice-president of the blockchain, Jose Fernandez Da Ponte, said that “the corporate environment is very well suited” for stablecoin payments.
Despite the modest supply of Pyusd to the Stablecoin USDT (USDT) and USDC (USDC) leaders, the company’s participation in the sector cannot be underestimated, according to the CEO of Polygon Labs, Marc Boiron.
In an interview with Cointtelegraph, Boiron credited companies like Paypal and Stripe to catalyze the adoption of stables at a time when regulators and companies were still not sure of technology.
Review: UNSTABLECOINS: release, bank races and other risks
