PayPal has officially confirmed its preference for the Solana blockchain over Ethereum for launching its stablecoin, PYUSD. José Fernández da Ponte, head of PayPal’s Blockchain, Crypto, and Digital Currencies business unit, cited the Ethereum network's shortcomings in facilitating effective payment solutions as a key reason for this decision.
Read MorePayPal's stablecoin, PYUSD, has achieved a significant milestone, surpassing a $1 billion market capitalization last week, according to CoinMarketCap data.
Read MorePayPal USD (PYUSD) has rapidly ascended in the stablecoin market, achieving the status of the sixth-largest stablecoin within a short span.
Read MoreSince its expansion to the Solana blockchain on May 29, PayPal USD (PYUSD) has experienced a dramatic 150% increase in its market capitalization, according to DefiLlama data. The stablecoin’s total market value has surged to $684 million, reflecting significant growth and adoption since its launch on Solana.
Read MorePaxos, a notable figure in the stablecoin sector, has introduced a fresh stablecoin called Lift Dollar (USDL) via its subsidiary Paxos International, based in the UAE.
Read MorePayPal has expanded its PYUSD stablecoin onto the Solana blockchain, introducing a new feature called "confidential transfers." This feature allows merchants to keep transaction amounts confidential while maintaining regulatory visibility.
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