PayPal is expanding its PayPal USD (PYUSD) stablecoin to eight additional blockchains, including Tron and Avalanche, through a partnership with LayerZero's Stargate Hydra bridge. This new integration will provide a permissionless version of PYUSD, known as PYUSD0, which will be fully fungible with existing PYUSD and allow for interoperability across various chains such as Aptos, Abstract, Ink, Sei, and Stable. Existing versions on Berachain and Flow will transition to PYUSD0. With this move, PayPal’s stablecoin aims to enhance its presence in the crypto market, following its existing support for Ethereum, Solana, and Stellar. Despite these expansions, PYUSD remains significantly behind competitors like Tether and Circle in market cap, which positions it at a challenging point in the rapidly growing stablecoin sector. Stablecoins are being increasingly recognized for their potential in facilitating borderless financial transactions, as noted by LayerZero's CEO.

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