PayPal’s Stablecoin Expands to Nine New Chains
The post PayPal’s Stablecoin Expands to Nine New Chains appeared on BitcoinEthereumNews.com.
PayPal’s US dollar-pegged stablecoin is widening its reach, moving beyond its native networks through a new integration with LayerZero’s interoperability framework. The rollout introduces a permissionless version of the token, PYUSD0, to nine blockchains including Tron, Avalanche and Sei. The move marks the biggest distribution step for PYUSD since its 2023 debut. With demand for cross-chain stablecoin transfers growing, the expansion is aimed at eliminating liquidity silos and ensuring fungibility across multiple ecosystems without forcing users to rely solely on PayPal’s own platform. How PayPal’s Cross-Chain Stablecoin Works PYUSD, issued by Paxos Trust Company, was originally confined to Ethereum, Solana, Arbitrum and Stellar. The newly launched PYUSD0 brings the token to Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron, while community versions on Berachain and Flow will automatically upgrade. Users need not take action, as all versions remain redeemable 1:1 for U.S. dollars. Sponsored Sponsored This expansion was enabled through Stargate, a bridge service that links more than 80 blockchains. LayerZero, which acquired Stargate last month, used its Hydra model to extend PYUSD to these nine additional networks. “By working with LayerZero, we can deliver stable value seamlessly to new markets while preserving compliance from the start,” said David Weber, PayPal USD’s head of ecosystem. The permissionless design ensures developers and users alike can move the stablecoin across supported networks as easily as wrapped tokens like WBTC, but without additional friction. Rising Stakes in Stablecoin Race 10 Eye-Opening Facts Driving Stablecoin Adoption Worldwide Analysts suggest that PayPal’s push could intensify competition in the $270-billion stablecoin sector, where Tether’s USDT and Circle’s USDC dominate. According to CoinGecko, PayPal’s stablecoin recently reached a market capitalization of about $1.3 billion, its highest level to date. That still pales in comparison to Tether’s $171 billion and Circle’s $74 billion. Despite its smaller footprint, PYUSD…
