Market News

LayerZero Integration Propels PayPal's Stablecoin to New Blockchains

PayPal's PYUSD stablecoin is now expanding its reach to nine additional blockchains, thanks to the integration with LayerZero.

This move follows the addition of LayerZero's Hydra Stargate infrastructure, which enables seamless token transfers across various networks.

The new blockchains include Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron, alongside existing community-issued versions on Berachain and Flow.

As reported, PYUSD's market capitalization has significantly increased to $1.3 billion from $520 million earlier this year.

Despite being relatively new, PYUSD has gained notable traction among corporate users, with 36% of respondents in a recent survey indicating its use.

LayerZero's implementation allows PYUSD to be represented as PYUSD0 on bridged networks, ensuring full interoperability across these ecosystems.

David Weber of PayPal emphasized that such innovations are crucial for creating a unified financial infrastructure in the digital age.

The integration aligns with TRON's commitment to enhance the availability and accessibility of digital assets within the financial system.

Furthermore, the collaboration highlights a significant step towards a unified global financial market that transcends geographical boundaries.

With this expansion, PayPal's stablecoin solidifies its position in the competitive landscape of digital currencies.