PayPal USD stablecoin now enables transfers between Ethereum and Solana via LayerZero. According to PayPal's statement, the integration aims to eliminate liquidity fragmentation and ensure that users and businesses can transact quickly, securely, and cost-effectively. The market cap of PYUSD on Ethereum has remained relatively stable in recent months at around $350 million, while the stablecoin supply on Solana has declined from $660 million in August to $186 million.
Jose Fernandezda Ponte, senior vice president of PayPal, said that PYUSD holders will benefit from the flexibility and convenience offered by LayerZero. Bryan Pellegrino, CEO of LayerZero Labs, added that the Omnichain homogeneous token (OFT) standard opens up a new level of interoperability for stablecoins, allowing PYUSD to move seamlessly between Ethereum and Solana.
PayPal stablecoin PYUSD has enabled transfers between ETH and Solana through LayerZero
2024-11-13 00:13:18
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