Payments Firm PayPal’s (PYPL) The US Dollar StableCOin is introduced to nine more blockchains by interoperability protocol Layerzero Expansion of the token over the four blockchains – Ethereum, Solana, Arbitum and Stellar – where it is natively issued.
Layerzero Integrated PayPal USD Issued by the fintech company Paxos, to its Hydra Stargate system, creating a permission-free version of the token called Pyusd0, which is one-on-one interchangeable with the underlying stableecoin.
The move makes the token available on abstract, aptos, avalanche, ink, SEI, stable and throne, while existing societal versions on Beracain and flow are automatically converted.
PayPal launched his Pyusd in 2023 as one of the first major payments company-stable stablecoins. With Layerzero’s expansion, the token aims to reach new markets faster and give a dollar-pegged stablecoin in the crypto economy.
Currently, PYUSD has a $ 1.3 billion supply, up from around $ 520 million at the beginning of this year, Rwa.xyz shows data.
Read more: PayPal adds crypto to peer-to-peer payments, allowing direct transfer of BTC, ETH, others
