PayPal has deployed its PYUSD stablecoin on Solana, which was previously available only on Ethereum. The new feature, “confidential transfers,” was announced on May 29, aiming to allow merchants to keep their transaction amounts confidential for consumers while still being visible for regulatory purposes. This functionality strengthens Solana’s existing capabilities by improving speed and token programmability. Bitcoiner Udi Wertheimer has commented on the novelty of this feature, noting that Bitcoin developers have discussed it for years, but it has not been implemented. PYUSD has seen a 50% increase in circulating supply this year, with a trading volume of $18 million over the last 24 hours.

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