PayPal and Solana are partnering up. And it might be the beginning of a massive acceleration for the adoption of one of the most exciting new stablecoins.
What’s happening:
- PayPal (NASDAQ: PYPL) has announced that their stablecoin is now available on the Solana blockchain for payments and transactions
Why it matters:
- The Solana blockchain is one of the lowest cost blockchains per transaction, which makes it ideal for integrating PYUSD for stablecoin transfers and payments
- PayPal is the first publicly traded payments company to ever launch their own stablecoin, which has been seeing a surge in activity and adoption
Going deeper:
- PayPal initially launched PYUSD on the Ethereum blockchain
- Crypto.com, Phantom and Paxos are the first three platforms to enable purchasing PYSUD on the Solana blockchain
The intrigue:
- The Solana ecosystem has been on the rise, with new wallet activity growing exponentially and the launch of new integrations with leading digital asset exchanges such as Binance
