PayPal's $1.3B Stablecoin Expands to 9 New Blockchains
PayPal's USD stablecoin, PYUSD, is set to expand to nine additional blockchains thanks to its integration with LayerZero's interoperability protocol. This step moves PYUSD beyond its initial platforms, which include Ethereum, Solana, Arbitrum, and Stellar. The expansion includes compatibility with Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron, with automatic conversion facilitated on Berachain and Flow. Since its launch in 2023, PYUSD has seen its supply grow from approximately $520 million to $1.3 billion, indicating its rising presence in the cryptocurrency market. LayerZero's integration introduces a permissionless version of the token, PYUSD0, which is one-to-one interchangeable with the original stablecoin. This enhanced accessibility aims to position PYUSD competitively in wider crypto transactions, supporting PayPal's objective of embedding itself more deeply in the digital economy.
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