PayPal Expands PYUSD to Solana, Targeting Payment Use Cases

PANews reported on May 29 that according to Cointelegraph, PayPal chose the Solana blockchain to expand its stablecoin PayPal USD (PYUSD), marking its first expansion outside the Ethereum ecosystem. According to the announcement, PYUSD has been added to the Solana network, allowing users to trade at a lower cost. The move is intended to expand the use of the PYUSD stablecoin as a payment method for small and daily purchases.

Jose Fernandez da Ponte, senior vice president of PayPal Blockchain, said in a statement: "Providing PYUSD on the Solana blockchain furthers our mission to achieve a digital currency with stable value designed for business and payments."