PayPal’s decision to extend its PYUSD stablecoin to the Solana blockchain is proving highly successful.

The digital asset now ranks among the top six stablecoins, with its supply quietly approaching the $1 billion milestone.

According to CoinGecko, PYUSD’s supply has grown by more than $300 million, or 45%, in the past month. This makes it the fastest-growing stablecoin among its peers, with a current supply close to $820 million.