PayPal announced plans to launch its PYUSD stablecoin on Stellar, pending regulatory approval from NYDFS. The stablecoin, already live on Ethereum and Solana with nearly $1B market cap, will leverage Stellar's infrastructure for cross-border payments and financing applications.
PayPal announced it will launch PYUSD stablecoin on the Stellar blockchain, subject to New York Department of Financial Services regulatory approval. PYUSD is already deployed on Ethereum and Solana with a market cap approaching $1 billion. The expansion to Stellar makes strategic sense given the network's existing cross-border payment infrastructure and on/off-ramp capabilities. PayPal highlighted that Stellar supports financing and business loan applications that could benefit users. The stablecoin can be used outside PayPal wallets for DeFi and other use cases.