In its long-running rivalry with Ethereum, Solana has enlisted a surprising new ally — PayPal.
The online payments pioneer has agreed to add its stablecoin, PYUSD, to the Solana blockchain network, the two companies said on Wednesday.
While PayPal already makes its stablecoin available on Ethereum, the development bolsters Solana’s credibility in the colossal payments processing space. The market is worth $2.6 trillion and is expected to grow to almost $5 trillion by 2029.