PayPal’s PYUSD Stablecoin Expands Across Nine Blockchains
- LayerZero extended PayPal’s stablecoin, PYUSD, to nine additional blockchains.
- PYUSD is now available on Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron.
- The stablecoin reached a market capitalization of $1.3 billion as of Thursday.
- 36% of corporations in a recent survey reported using PYUSD over other stablecoins like Ethena’s USDe and Sky Protocol’s USDS.
- Stargate bridge facilitates the interoperability of PYUSD across more than eighty blockchains.
PayPal’s PYUSD has expanded its reach significantly by integrating with nine new blockchains via LayerZero’s protocol, enhancing its utility and adoption among corporate users. The expansion is supported by the Stargate bridge, which enables seamless movement across multiple networks.
Despite being relatively new compared to competitors like Tether and Circle, PYUSD has achieved a notable market cap milestone of $1.3 billion, indicating growing adoption in the stablecoin sector (Source)
