Deep Tide TechFlow News, on November 13, according to The Block, PayPal USD stablecoin has now achieved transfers between Ethereum and Solana via LayerZero.
According to PayPal's statement, this integration aims to eliminate liquidity fragmentation, ensuring that users and businesses can transact quickly, securely, and cost-effectively. The market capitalization of PYUSD on Ethereum has remained relatively stable in recent months at around $350 million, while the supply of the stablecoin on Solana has decreased from $660 million in August to $186 million.
Jose Fernandez da Ponte, PayPal's Senior Vice President, stated that PYUSD holders will benefit from the flexibility and convenience provided by LayerZero.
Bryan Pellegrino, CEO of LayerZero Labs, added that the Omnichain Fungible Token (OFT) standard opens up new interoperability levels for stablecoins, allowing PYUSD to move seamlessly between Ethereum and Solana.
