PayPal Expands Stablecoin PYUSD to Seven New Blockchain Networks
The post PayPal Expands Stablecoin PYUSD to Seven New Blockchain Networks appeared on BitcoinEthereumNews.com.
Key Points:PayPal and LayerZero expand PYUSD to seven new blockchains, enabling permissionless transactions.Tap into new liquidity sources across leading blockchain ecosystems.Enhance cross-chain compatibility and broaden stablecoin utility. On September 19, PayPal’s stablecoin PYUSD expanded to seven new blockchain networks, including Tron and Avalanche, through integration with LayerZero’s Stargate Hydra cross-chain bridge. This expansion enhances cross-chain liquidity and DeFi integration, supporting broader developer and user adoption of PayPal USD across global blockchain networks. PayPal Expands PYUSD to Seven Blockchain Networks PayPal’s stablecoin expansion involves the integration of the PYUSD across seven new blockchain networks, marking a major shift in digital payment strategies. These networks include Avalanche, Tron, and Sei, with the introduction of a permissionless variant named PYUSD0. This variant will provide seamless cross-network fungibility. Implementation by the LayerZero cross-chain protocol is crucial for enhancing the token’s reach. Market dynamics are anticipated to change, as PYUSD’s presence grows particularly within the DeFi sphere. Such widespread implementation may encourage increased liquidity and boost trading volumes across newly integrated chains. Official statements from LayerZero emphasize how the move facilitates a globally connected financial market driven by continuous operation. With PYUSD0, PayPal USD expands its reach and flexibility to work across today’s networks and tomorrow’s. Launches like this make it obvious that we are at the start of a global financial market that breaks down borders and works around the clock.” — LayerZero Team, LayerZero BlogReactions to this integration, while still emerging, could envisage a shift in how stablecoins are utilized across blockchain ecosystems. As of this report, no specific leadership or industry figures have publicly addressed the development, leaving room for future assessments. Impact of PYUSD Expansion on Market and Price Did you know? The introduction of multi-network stablecoins has historically transformed market accessibility and utility, as seen with Tether’s expansion in 2021.…
