TechFlow News, November 13 — According to The Block, PayPal's USD-pegged stablecoin PYUSD is now enabled for transfers between Ethereum and Solana via LayerZero.
Per PayPal's announcement, this integration aims to eliminate fragmented liquidity, ensuring users and businesses can transact quickly, securely, and cost-effectively. The market cap of PYUSD on Ethereum has remained relatively stable over recent months at approximately $350 million, while the stablecoin supply on Solana has declined from $660 million in August to $186 million.
Jose Fernandez da Ponte, Senior Vice President at PayPal, said PYUSD holders will benefit from the flexibility and convenience provided by LayerZero.
Bryan Pellegrino, CEO of LayerZero Labs, added that the Omnichain Fungible Token (OFT) standard unlocks a new level of interoperability for stablecoins, enabling seamless movement of PYUSD across Ethereum and Solana.
