According to PANews, PayPal has chosen the Solana blockchain to expand its stablecoin PayPal USD (PYUSD), which is its first expansion outside the Ethereum ecosystem. PYUSD has been added to the Solana network so that users can trade at a lower cost. The move is intended to expand the use of the PYUSD stablecoin as a payment method for small and daily purchases.

Jose Fernandez da Ponte, senior vice president of blockchain at PayPal, said, 'Offering PYUSD on the Solana blockchain furthers our mission to enable a digital currency with stable value designed for commerce and payments.'