PayPal’s PYUSD Stablecoin Expands to Nine Additional Blockchains
- PayPal’s stablecoin, PYUSD, is now available on nine new blockchains through LayerZero integration.
- The expansion includes networks like Abstract, Aptos, Avalanche, and Tron.
- PYUSD has a current supply of $1.3 billion, up from approximately $520 million at the start of the year.
- LayerZero created a permissionless version of PYUSD called PYUSD0 that is interchangeable with the original stablecoin.
- Existing versions on Berachain and Flow will automatically convert to the new format.
This move aims to enhance the accessibility of stablecoins in various markets by leveraging interoperability protocols like LayerZero. The introduction of PYUSD across multiple platforms reflects PayPal’s strategy to integrate more deeply into the cryptocurrency ecosystem.
With its supply increasing significantly this year, PayPal’s PYUSD stablecoin now stands at $1.3 billion as it expands its reach across nine new blockchains.(Source)
