PayPal Expands PayPal USD Stablecoin Across More Blockchains
PayPal is increasing the reach of its digital dollar, PayPal USD (PYUSD). It partners with LayerZero’s Stargate Hydra bridge to enable easier use across multiple crypto networks. PYUSD first launched on Ethereum and later expanded to Solana and Arbitrum. Stellar was added recently.
PayPal now introduces a permissionless version of the token called PYUSD0. This version will be available on Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron networks. Existing bridged tokens on Berachain (BYUSD) and Flow (USDF) will upgrade to PYUSD0.
Both PYUSD and PYUSD0 remain fully fungible and interoperable across blockchains. LayerZero said on X, “With PYUSD0, PayPal and LayerZero are working to drive greater availability of PYUSD across blockchains.” This expands access to over 140 supported networks.
Permissionless Access for Developers and Users
The permissionless PYUSD0 allows developers to integrate the stablecoin without special authorization. PYUSD’s circulating supply exceeds $1.3 billion, according to DefiLlama. The Tron network integration opens access to over 332 million user accounts.
David Weber, Head of Ecosystem at PayPal USD, said, “As the stablecoin market continues its rapid growth beyond $270 billion, innovations like this are essential.” He emphasized that interoperability and compliance remain top priorities.
Bryan Pellegrino, CEO of LayerZero Labs, added, “Stablecoins are the killer app within the crypto ecosystem. With PYUSD0, PayPal USD expands its reach and flexibility.” He called this a step toward a borderless, 24/7 financial market.
Infrastructure Partners and Recent Developments
- Paxos issues PYUSD.
- Stargate enables transfers without slippage.
- LayerZero ensures seamless distribution across blockchains.
This infrastructure lets users self-custody PYUSD and move it easily between blockchains.
Earlier this week, PayPal launched PayPal Links, a peer-to-peer payments feature. Crypto integration, including Bitcoin, Ether, and PYUSD, is expected soon on PayPal, Venmo, and other wallets.
According to Yahoo Finance, PayPal’s stock (PYPL) trades at $68.78, up 0.24% at the time of writing.
