BlockBeats News, November 13th, according to TheBlock, the PayPal USD stablecoin has now enabled transfers between Ethereum and Solana through LayerZero. According to PayPal's statement, this integration is aimed at eliminating liquidity fragmentation, ensuring that users and businesses can transact quickly, securely, and cost-effectively. The PYUSD market cap on Ethereum has remained relatively stable in recent months, at around $350 million, while the stablecoin supply on Solana has decreased from $660 million in August to $186 million.
PayPal's Senior Vice President, Jose Fernandez da Ponte, 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 has opened up a new level of interoperability for stablecoins, allowing PYUSD to move seamlessly between Ethereum and Solana.
