PayPal Widens the Scope of PYUSD Stablecoin Across Nine Additional Blockchains Via LayerZero Integration
PayPal's stablecoin, PYUSD, has made a significant stride in the cryptocurrency world, becoming available on nine additional blockchains. This includes popular platforms like Tron and Avalanche, as well as emerging ecosystems such as Sei and Aptos. With this expansion, wallets and decentralised applications (dApps) can now treat PYUSD as one omnipresent token, eliminating the need to juggle multiple versions. This means that PYUSD on Tron, Avalanche, or Aptos is fully fungible with the original Ethereum and Solana asset. The PayPal USD expansion is powered by LayerZero's Stargate Hydra model, a design that extends assets seamlessly from the Ethereum hub onto multiple spoke chains. This model reduces fragmentation, keeps liquidity unified, and prevents confusion for developers and end users. The co-founder and CEO of LayerZero Labs, Bryan Pellegrino, has described the implications of this expansion, although specific details were not provided. The launch of PayPal's stablecoin expansion is built around the PYUSD standard, which eliminates fragmented versions of the token. The expansion of PYUSD provides PayPal with an opportunity to gain ground in markets historically dominated by crypto-native issuers. It also offers DeFi builders an instant on-ramp to a PayPal-branded dollar without relying solely on Tether or USDC. The expansion of PayPal's stablecoin is the first real-world validation of LayerZero's acquisition of Stargate, the cross-chain bridge protocol. Users moving between chains with PYUSD don't need to worry about different contract addresses or liquidity pools. PayPal now maintains a single omnichain stablecoin with liquidity that stretches across networks. This signifies a step towards a global financial market that breaks down borders and operates continuously. With a market cap of approximately $1.9 billion, PayPal's stablecoin may still be smaller than established rivals, but its reach continues to grow.
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