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PayPal Makes Retail Stablecoin Play with PYUSD on Solana

Payments giant PayPal’s (PYPL) stablecoin PYUSD is coming to Solana almost a year after first debuting on the Ethereum blockchain. The launch could bring new interest to a modestly sized crypto asset that hasn’t caught fire despite its name-brand backing. PYUSD has around 8,600 holders on the Ethereum blockchain and a market cap of under $400 million. “Ethereum works well enough,” said PayPal's Senior Vice President of Blockchain, Jose Fernandez da Ponte. Beyond cost and speed PYUSD also has new superpowers on Solana that weren't possible on Ethereum. It is one of a handful of compliance and programmability powers for PYUSD.

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