PayPal is growing the reach of its digital dollar, PayPal USD (PYUSD), by bringing it to more blockchains. It’s working with LayerZero’s Stargate Hydra bridge to make the stablecoin easier to use across different crypto networks. PYUSD first launched on Ethereum and later expanded to Solana and Arbitrum, with Stellar added just recently.
According to the announcement, PayPal is introducing a permissionless version of the token PYUSD0, which will be available on Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron.
Existing bridged tokens on Berachain (BYUSD) and Flow (USDF) will also upgrade to PYUSD0. Hence, users can hold either PYUSD or PYUSD0 without friction since both remain fully fungible and interoperable across chains.
LayerZero confirmed on X thread,“With PYUSD0, PayPal and LayerZero are working to drive greater availability of PYUSD across blockchains,” the company said. This means new markets can access PYUSD faster with availability across over 140 supported networks.
In addition, developers acquire a compliant and dollar-backed stablecoin that can be integrated without so much trouble into their applications. Finally, the end-users benefit by having a smooth way to send, receive, and transfer the stabilizing value without relying on wire transfer centers.
Permissionless Access for Developers and Users
The new permissionless version allows any developer to integrate the stablecoin into their applications without needing specific authorization. With a current circulating supply of over $1.3 billion, according to DefiLlama, PYUSD is now positioned to reach a broader user base. The new integration with the Tron network, for example, gives the stablecoin access to an ecosystem with over 332 million user accounts.
David Weber, Head of Ecosystem at PayPal USD, noted, “As the stablecoin market continues its rapid growth beyond $270 billion, innovations like this are essential.” He explained that interoperability and compliance remain priorities from day one.
Bryan Pellegrino, CEO of LayerZero Labs, added, “Stablecoins are the killer app within the crypto ecosystem. With PYUSD0, PayPal USD expands its reach and flexibility.” He stressed that the move signals the start of a borderless and round-the-clock financial market.
Furthermore, the system brings together three infrastructure partners. Paxos issues PYUSD, Stargate enables transfer without slippage, and LayerZero ensures seamless distribution across blockchains. Consequently, anyone self-custodying PYUSD can now move it between blockchains with ease.
Earlier this week, PayPal also rolled out PayPal Links, a peer-to-peer payments feature. Crypto integration, including Bitcoin, Ether, and PYUSD, is expected soon across PayPal, Venmo, and other wallets.
According to Yahoo Finance data, as of writing, PayPal’s stock (PYPL) trades at $68.78, marking a slight 0.24% increase.
Also Read: Plasma To Launch Mainnet Beta With $2B Stablecoins
