PayPal Makes Retail Stablecoin Play with PYUSD on Solana
Summary
PayPal's stablecoin PYUSD is set to launch on the Solana blockchain, following its debut on the Ethereum blockchain a year ago. Despite PayPal's reputation, PYUSD has only attracted around 8,600 holders on Ethereum and has a market cap of just under $400,000. PayPal's Senior Vice President of Blockchain, Jose Fernandez da Ponte, highlighted the need for faster transaction speeds and lower costs for retail payments. On Solana, PYUSD will have new features, such as "Token Extensions" standards that allow for more confidential transfers.
