PayPal Selects Ethereum (ETH) for New Payment Integration: Key Details Inside.

PayPal launched its stablecoin PYUSD on the Solana blockchain. This development marks the first major expansion of #PYUSD beyond the Ethereum ecosystem. Thanks to this launch, millions of users will now have the opportunity to use the token and benefit from Solana's high speed and low-cost transaction capabilities.

According to the latest announcement, PYUSD is now live on the Solana blockchain, making it one of the top networks supporting the stablecoin. This collaboration offers great advantages for both PayPal and Solana because it promises to provide fast access to the token to millions of users. Specifically, this integration will allow PayPal to offer lower-cost transactions to its users and serve more than 30 million merchants worldwide with Solana's network. This step is a major milestone for PYUSD and demonstrates the need for PayPal to move beyond the Ethereum ecosystem.

This partnership also aims to expand the use of PYUSD as a payment method for small and everyday purchases. Since its entry into the market, #PayPal USD has been competing with dominant alternatives such as #Tether (USDT) and USD Coin (#USDC✅ ). To remain competitive, PayPal is constantly looking for new ways to grow.

Solana's high trading volume and low costs are expected to positively impact the market outlook for PYUSD. Solana can process more than 5,000 transactions per second at a cost of just $0.0025. In comparison, #Ethereum processes approximately 15 transactions per second, while fees can range from $1 to $50 during peak periods. For comparison, a transaction that might take several minutes and incur higher costs on Ethereum can be completed in seconds on Solana. “The launch of PYUSD on the Solana blockchain advances our mission to provide a stable digital currency designed for commerce and payments,” said Jose Fernandez da Ponte, PayPal's Senior Vice President of Blockchain. As a result, PayPal and Venmo wallet users will have a seamless experience regardless of blockchain.
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