PayPal Expands PYUSD Stablecoin to New Blockchains
PayPal is growing its stablecoin, PayPal USD (PYUSD), to more blockchains. The company is working with LayerZero to launch PYUSD on Tron, Avalanche, and Aptos. This expansion follows PYUSD’s earlier launch on Ethereum, Solana, and Arbitrum.
PYUSD0 to Launch on Tron, Avalanche, and Aptos
PayPal will release PYUSD0 on new blockchains using LayerZero’s technology. The stablecoin will be available as a permissionless token through the Stargate Hydra bridging platform. PYUSD0 will follow LayerZero’s Omnichain Fungible Token (OFT) standard.
David Weber, Head of Ecosystem for PayPal USD, said, “By working together, we will enable PYUSD to reach new markets faster while maintaining compliance and composability from day one.”
LayerZero will handle minting, burning, and deploying PYUSD0 across these blockchains. The token will stay fully fungible and interoperable with the original PYUSD. Users can move PYUSD across blockchains without relying on centralized banks.
Growing Stablecoin Market and Industry Interest
PYUSD’s expansion comes as the stablecoin market grows beyond $270 billion. Weber added, “Innovations like this are essential for creating seamless, interoperable financial infrastructure.”
Aptos is the Move-chain launch partner for PYUSD0. It will combine its infrastructure with PYUSD’s liquidity to support real-world payments.
PayPal was one of the first fintech firms to launch a stablecoin in 2023. Other companies, like Fiserv, plan to launch their own stablecoins soon. This trend follows increased demand after the GENIUS Act passed in July.
Major banks such as JPMorgan, Bank of America, Citigroup, and Wells Fargo have shown interest in stablecoins.
