PayPal’s PYUSD Stablecoin Expands to Eight New Blockchains
PayPal, the payments giant, continues its push into the cryptocurrency ecosystem by expanding the availability of its PYUSD stablecoin to eight new blockchains. This expansion, executed in collaboration with the LayerZero platform, will enable PYUSD usage on networks such as Tron, Avalanche, Aptos, Abstract, Ink, Sei, and Stable.
This new permissionless version, dubbed PYUSD0, will be fully interoperable with the original PYUSD. Existing versions on Berachain (BBYUSD) and Flow (USDF) will also be upgraded to PYUSD0. Additionally, a separate announcement reveals that PYUSD is now expanding to Stellar, a low-fee blockchain widely used in developing countries.
Stablecoin Adoption : A Major Strategic Priority
PYUSD’s expansion comes amid strong growth in the stablecoin market, currently valued at $295 billion and projected to reach $2 trillion by 2028 according to the US Treasury. This momentum is reinforced by the adoption of stablecoin legislation, such as the recent GENIUS Act signed by President Trump.
While PayPal aims to compete with industry giants like Tether (USDT) and Circle (USDC), which dominate the market with market capitalizations of $171.2 billion and $74.3 billion respectively, PYUSD still lags behind at $1.3 billion. Nevertheless, this expansion to new blockchains demonstrates PayPal’s determination to establish itself as a major player in the stablecoin sector.
A Vision for a Decentralized Financial Market
According to LayerZero Labs CEO Bryan Pellegrino, these integrations herald the advent of a borderless global financial market facilitated by modern technologies. He believes this evolution will enhance the monetary experience by offering increased fluidity in transactions.
In conclusion, the extension of PayPal’s PYUSD stablecoin to new blockchains illustrates the transformations in the crypto ecosystem and the rising influence of this payments giant in the stablecoin sector.
