PayPal's PYUSD Expands to Avalanche, Tron, and More
PayPal USD (PYUSD) Broadens Blockchain Support
PayPal's (PYPL) stablecoin, PYUSD, is expanding its availability to nine additional blockchains through LayerZero's interoperability protocol. This move significantly broadens the token's accessibility beyond its initially supported networks: Ethereum, Solana, Arbitrum, and Stellar.
The integration leverages LayerZero's Hydra Stargate system, resulting in a permissionless version of PYUSD, dubbed PYUSD0. This version maintains a 1:1 interchangeability with the original stablecoin.
New Blockchains Supported
The expansion makes PYUSD available on:
- Abstract
- Aptos
- Avalanche
- Ink
- Sei
- Stable
- Tron
Existing community-issued versions on Berachain and Flow are expected to automatically convert to the new standard.
PYUSD Growth and Market Impact
Launched in 2023, PYUSD represents one of the first stablecoin initiatives from a major payments company. This expansion via LayerZero aims to accelerate its adoption and provide a reliable dollar-pegged stablecoin option within the wider crypto ecosystem.
Currently, PYUSD boasts a supply of $1.3 billion, a substantial increase from approximately $520 million at the beginning of the year, according to RWA.xyz data.
This expansion highlights the growing trend of stablecoins seeking broader interoperability across different blockchain networks. For projects considering similar integrations, Codeum offers comprehensive smart contract audit services to ensure security and reliability across multiple chains.