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<p class="is-style-lead">Online payment giant PayPal has announced that its PYUSD stablecoin has officially launched on the Solana blockchain.</p> 
<p>The company revealed its stablecoin network expansion in a <a href="https://pyusd.mirror.xyz/TpEwPNybrwzPSSQenLtO4kggy98KH4oQRc06ggVnA0k" data-type="link" data-id="https://pyusd.mirror.xyz/TpEwPNybrwzPSSQenLtO4kggy98KH4oQRc06ggVnA0k" target="_blank" rel="">press release</a>. The decision would make PYUSD faster and cheaper for people to use.</p> 
<p>The<a href="https://watcher.guru/news/solana-vs-ripples-xrp-which-will-get-an-etf-first" target="_blank" rel="">&nbsp;Solana network</a>&nbsp;is well known for its high speeds and relatively low transaction costs. Moreover, the development is set to give users more options regarding what blockchain they use the stablecoin on. The expansion is the first move outside Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="">ETH</a>) for the PYUSD asset.</p> 
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   <p lang="en" dir="ltr">1/📣Breaking News: <a href="https://twitter.com/PayPal?ref_src=twsrc%5Etfw" target="_blank" rel="">@PayPal</a> USD (PYUSD) is live on Solana!<br><br>PayPal USD stablecoin issued by <a href="https://twitter.com/Paxos?ref_src=twsrc%5Etfw" target="_blank" rel="">@Paxos</a> will leverage Solana and token extensions to serve over 30m+ merchants, empowering users with fast and secure stablecoin transactions. <a href="https://t.co/h66iejTv50" target="_blank" rel="">pic.twitter.com/h66iejTv50</a></p>— Solana (@solana) <a href="https://twitter.com/solana/status/1795802766700605873?ref_src=twsrc%5Etfw" target="_blank" rel="">May 29, 2024</a>
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<p> You might also like: <a href="https://crypto.news/wif-reaches-two-month-high-traders-bet-on-downturn/" rel=""> WIF reaches two-month high, traders bet on downturn </a> </p> 
<p>“Important features to provide to merchants if PYUSD is to grow in its utility to broader commercial segments,” said PayPal, noting the expansion decision was driven by these significant benefits for commerce use cases. “Solana’s role in driving further adoption and proving PYUSD’s utility for daily use,” the company highlighted, as it seeks to expand the use cases for its <a href="https://crypto.news/tag/stablecoin/" data-type="link" data-id="https://crypto.news/tag/stablecoin/" rel="">stablecoin</a> offering.</p> 
<p>Although Solana (<a href="https://crypto.news/price/solana/" data-type="link" data-id="https://crypto.news/price/solana/" rel="">SOL</a>) has struggled with <a href="https://crypto.news/solana-passed-scalability-test-despite-outages-analyst-says/" data-type="link" data-id="https://crypto.news/solana-passed-scalability-test-despite-outages-analyst-says/" rel="">outages</a> in recent years, its results cannot be rejected. The network processes as many as 65,000 transactions in a single second, and those transactions take place at a cost as low as $0.0025. These marks are way better than Ethereum’s 15 transactions per second, with <a href="https://crypto.news/ethereum-3600-gas-fees/" data-type="link" data-id="https://crypto.news/ethereum-3600-gas-fees/" rel="">fees</a> that can reach $50 when the network is congested.</p> 
<p> Read more: <a href="https://crypto.news/solana-joins-terraforms-pulsar-finance-multichain-portfolio-tracker/" rel=""> Solana joins Terraform’s Pulsar Finance multichain portfolio tracker </a> </p>

PayPal expands PYUSD stablecoin to Solana

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