PayPal has announced that users of the platform, as well as the Venmo app, will soon be able to buy, sell and maintain Solana and Chinlink cryptocurrencies such as bitcoin (BTC) and Ethereum (ETH) in their accounts.

The move is aimed at expanding PayPal's cryptocurrency services and responding to users ' demands. Vice president of blockchain and cryptocurrency PayPal said:

Adding new tokens provides more flexibility and options for users to use in secure PayPal and Venmo wallets.

According to reports, access to Solana and Chinlink in-app purchases will be activated for users in the coming weeks. It is noteworthy that PayPal has made it possible for users to buy, sell and maintain Bitcoin and Ethereum since 2020, and since then, has gradually expanded the scope of its cryptocurrency services.

In 2023, the company launched its dollar-backed stabilcoin (pyusd) first on Ethereum and then on Solana. In September 2024, business account holders were able to directly buy and sell cryptocurrencies in their account.

Earlier, the ability to send cryptocurrencies through the Ethereum Name Service (ENS) was added to PayPal and Venmo.

In addition, PayPal recently partnered with the moonpay platform so that Venmo users can buy any cryptocurrency through this portal with their inventory, bank account or card. This feature had been added to PayPal since May 2024.

PayPal's goal is to get 20 million vendors to use pyusd's stabilcoin by the end of 2025.

Despite this, the company's stock value has gone from about دلار 77 to 58.47, a 32 percent decline since the beginning of the year.