ChainCatcher reported that at the Solana Breakpoint 2024 conference, José Fernández, head of blockchain strategy and cryptocurrency at PayPal, said that Ethereum is not the best solution for payments, which is why PayPal chose to issue stablecoins on the Solana network.

Fernández pointed out that Solana offers token expansion capabilities, lower transaction costs, and the ability to process 1,000 transactions per second, features that make it ideal for mainstream adoption.