Solana (SOL) is the latest network to welcome PayPal’s United States dollar-pegged stablecoin PYUSD.

Mutual Solana and PayPal Collaboration

According to a recent X post, PYUSD has gone live on the Solana blockchain, making it one of the top networks that have showcased its support to the stablecoin. This new collaboration is beneficial for both PayPal and Solana with potentials for millions of users to gain access to the token with guaranteed speed.

Specifically, this new integration provides PayPal with the opportunity to leverage Solana and  token extension to serve more than 30 million merchants globally while offering users transactions at a lower cost. This marks a milestone for USD-pegged stablecoin as it is its first move beyond the Ethereum ecosystem.

It is also an expansion of the utilization of PYUSD stablecoin as a payment method for small and daily purchases. Since its launch, PayPal USD has found new ways to evolve in a bid to compete with dominant alternatives like Tether (USDT) and USD Coin (USDC).

This is a breaking news, please check back for updates!

The post Breaking: PayPal USD (PYUSD) Goes Live On Solana appeared first on CoinGape.

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