SOL - Can Solana Replace PayPal?
Since its founding in 1998, PayPal (NASDAQ: PYPL) has helped pioneer the world of electronic payments, making it easier for consumers to send and spend money and for merchants to accept it. Over the years, the business added a ton of new product offerings for its user base, which stands at 429 million active accounts as of June 30. PayPal now sports a market cap of $97 billion.
But Solana (CRYPTO: SOL) , an innovative cryptocurrency with some key features, could make a dent in the top fintech stock 's business over time. Let's take a closer look.
In the trailing-12-month period as of the second quarter of 2022, PayPal processed a whopping 20.9 billion transactions for a total payment volume (TPV) of $1.3 trillion. And the company generated revenue during that span of $26.4 billion. This is one of the most important enterprises in the payments industry.
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Can Solana Replace PayPal?