PayPal's stablecoin, PYUSD, has seen significant growth, reaching a market capitalization of $1.3 billion. This expansion is facilitated by LayerZero's interoperability protocol, allowing PYUSD to be used across nine additional blockchains. The stablecoin, which launched two years ago, is gaining traction among corporate users, with 36% of surveyed corporations reporting its use, surpassing other stablecoins such as Ethena's USDe. PayPal recently introduced a peer-to-peer payments program, PayPal Links, that users can utilize for sending various currencies, including PYUSD. Although newer to the market compared to established players like Tether and Circle, PYUSD's adoption highlights its appeal in the crypto landscape. LayerZero’s capabilities allow the stablecoin to operate on multiple networks seamlessly, boosting its usability and appeal as financial infrastructure evolves.

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