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PayPal Brings PYUSD to 8 New Blockchains in Major Expansion

Key Takeaways

  • ​PayPal's PYUSD stablecoin is now available on 8 more blockchains, including Tron, Avalanche, and Aptos;
  • A new version, PYUSD0, allows users to move funds freely across networks without centralized approval;
  • LayerZero’s Stargate Hydra enables seamless transfers of PYUSD0 and manages its minting and burning.

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PayPal Brings PYUSD to 8 New Blockchains in Major Expansion

PayPal has extended the reach of PYUSD by making the stablecoin available on eight more blockchain networks.

Most of this expansion is occurring through LayerZero’s Stargate Hydra system, which will help connect PYUSD with new platforms in a more flexible and decentralized way.

LayerZero explained in a press release on September 18 that with this update, a version called PYUSD0 is being launched. It is a permissionless form of the PayPal stablecoin, which means it can move freely across networks without needing approval from a central authority.

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According to LayerZero, this version will be compatible with the original PYUSD and maintain full compatibility across various blockchains.

The new networks that are supported include Tron TRX $0.3369 , Avalanche AVAX $28.44 , Aptos APT $5.10 , Abstract, Ink, Sei, and Stable. In addition, two blockchain networks, Berachain and Flow FLOW $0.3599 , which already had their own forms of PayPal stablecoins (BBYUSD and USDF), will upgrade to use PYUSD0 instead.

LayerZero’s Stargate Hydra will be used to transfer PYUSD0 between chains. Meanwhile, LayerZero’s infrastructure will handle the technical tasks, such as issuing, destroying, and managing the new tokens.

Before this expansion, PYUSD was already available on Ethereum ETH $4,354.70 , Solana SOL $222.47 , and Arbitrum ARB $0.4251 . With the addition of Stellar and the new PYUSD0 version, users have more ways to access and use PayPal’s digital dollar.

Bryan Pellegrino, CEO of LayerZero Labs, stated that developments like this point toward a more connected financial system.

PayPal recently expanded its peer-to-peer (P2P) payment services by launching a feature called PayPal Links. How does it work? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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