📱PayPal expands its stablecoin: now compatible with Ethereum and Solana

📱PayPal expands its stablecoin: now compatible with Ethereum and Solana

PayPal continues to strengthen its presence in the crypto market. PYUSD has adopted the Omnichain Fungible Token (OFT) standard, allowing users with self-custody to move their assets between blockchains.

➡️ Improved mobility: Transfers of the stablecoin are now possible thanks to the integration with the cross-chain protocol LayerZero.

➡️ Context: According to recent data from DeFiLlama, since August, the market capitalization of PYUSD has almost halved, now sitting at 513 million USD. Compared to other dollar-backed stablecoins, PayPal is still far from competing:
In Ethereum, there is 384 million USD in PYUSD.
In Solana, there is only 166 million USD.

➡️ Regulation on the horizon: Although the stablecoin market, valued at over 140 billion USD, currently operates without strict regulations, this could change in the U.S. 🇺🇸. A bill has been proposed in the Senate that would require, among other things, issuers to create subsidiaries to issue stablecoins, and the asset would not be classified as a security...
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