2 hours ago
Payments steadfast PayPal's (PYPL) U.S. dollar stablecoin is being introduced to 9 much blockchains by interoperability protocol LayerZero (ZRO), expanding the token beyond the 4 blockchains — Ethereum, Solana, Arbitrum and Stellar — wherever it's natively issued.
LayerZero integrated PayPal USD (PYUSD), issued by fintech steadfast Paxos, into its Hydra Stargate system, creating a permissionless mentation of the token dubbed PYUSD0 that's one-to-one interchangeable with the underlying stablecoin.
The determination makes the token disposable connected Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron, portion existing community-issued versions connected Berachain and Flow volition person automatically.
PayPal launched its PYUSD successful 2023 arsenic 1 of the archetypal large payments firm-backed stablecoins. With LayerZero's expansion, the token aims to scope caller markets much rapidly and supply a dollar-pegged stablecoin wrong the crypto economy.
Currently, PYUSD has a proviso of $1.3 billion, up from astir $520 cardinal astatine the opening of this year, RWA.xyz data shows.
Read more: PayPal Adding Crypto to Peer-to-Peer Payments, Allowing Direct Transfer of BTC, ETH, Others
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