PayPal Selects Solana for Distribution
The goal of the integration is to allow users to transact at a lower cost and use PYUSD as a payment method for daily purchases.
PayPal announced that it has selected the Solana blockchain to power the development of its stablecoin PayPal USD (PYUSD). This is the company's first step outside the Ethereum ecosystem.
The goal of the integration is to enable users to transact at a lower cost and focus on using PYUSD as a payment method for daily purchases. The announcement comes as Solana's SOL token becomes the fifth largest cryptocurrency by market capitalization.
Solana's blockchain technology allows it to process 65,000 transactions per second for only $0.0025 in fees. By comparison, Ethereum can process about 15 transactions per second and fees can range from $1 to $50, especially during peak periods when gas fees are at their highest.
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