PayPal announced its PYUSD stablecoin will launch on Stellar pending regulatory approval from New York State. The token is already live on Ethereum and Solana, and will enable faster cross-border payments on Stellar's network.
PayPal announced that its PYUSD stablecoin will soon launch on the Stellar blockchain, pending approval from the New York State Department of Financial Services. PYUSD, issued by Paxos Trust Co., is already available on Ethereum and Solana blockchains. PayPal's VP of Blockchain and Cryptocurrency stated the expansion will advance digital currency adoption for cross-border payments, enabling seamless value flow across global markets. The stablecoin, backed by cash equivalents and short-term treasuries, aims to compete in the crowded stablecoin market dominated by USDT and USDC.