PANews reported on May 29 that according to Cointelegraph, PayPal chose the Solana blockchain to expand its stablecoin PayPal USD (PYUSD), marking its first expansion outside the Ethereum ecosystem. According to the announcement, PYUSD has been added to the Solana network, allowing users to trade at a lower cost. The move aims to expand the use of the PYUSD stablecoin as a payment method for small and daily purchases.
“Offering PYUSD on the Solana blockchain furthers our mission to enable a digital currency with stable value designed for commerce and payments,” Jose Fernandez da Ponte, senior vice president of blockchain at PayPal, said in a statement.
