PayPal’s PYUSD stablecoin is now live on the Solana blockchain, promising faster and cheaper transactions. Launched on Ethereum nearly a year ago, the addition of Solana offers users greater flexibility and control.
Solana is renowned for its high-speed, low-cost transaction processing and is the leading blockchain for stablecoin transfers, according to Artemis. This move aligns with PayPal’s goal of promoting digital currency use in commerce and payments.
In addition to PayPal and Venmo wallets, users can now buy PYUSD on Solana through platforms like Crypto.com, Phantom, and Paxos.
Jose Fernandez da Ponte, SVP of PayPal’s blockchain, cryptocurrency, and digital currency group, stated, “Making PYUSD available on the Solana blockchain furthers our goal of enabling a digital currency with a stable value designed for commerce and payments.”
