Aave Community Votes To Integrate PayPal’s Stablecoin
Decentralized lending and borrowing protocol Aave is voting to integrate PayPal's PYUSD stablecoin, issued by Paxos Trust Company. The vote, which is overwhelmingly in favor of the integration, follows decentralized exchange Curve's decision to host PYUSD. The dollar-pegged stablecoin, launched in August, has a market capitalization of $289 million. Aave is the world's third-largest decentralized finance solution, with nearly $5 billion worth of crypto assets locked into the protocol. The integration of PYUSD into Aave is expected to build synergies with PayPal's stablecoin and strengthen the relationship between PYUSD and Aave's decentralized multi-collateral stablecoin GHO. Trident, the proposer of the integration, plans to contribute $5 million to $10 million in liquidity for PYUSD on Aave from the first day.
