$SOL

According to the Solana team, PayPal—the coin's issuer—launched its stablecoin on their network. According to the management, the company's decision was based on the blockchain's low commissions and high speed.

"The expansion of PYUSD to the Solana Network furthers our mission to create a stable value digital currency for commerce and payments," said José Fernandez da Ponte, Senior Vice President of Digital Assets at PayPal.