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Home»ADOPTION NEWS»PayPal USD Launches on Solana Blockchain
ADOPTION NEWS

PayPal USD Launches on Solana Blockchain

By Crypto FlexsMay 29, 20242 Mins Read
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PayPal USD Launches on Solana Blockchain
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PayPal USD launches on Solana blockchain.

According to a statement released by PayPal on Wednesday, users of Solana, the world’s third most utilized blockchain, can now use PayPal USD issued by Paxos to facilitate cross-border transactions, including various transactions such as money transfers. You can. . PayPal USD was first launched on the Ethereum network last August.

Jose Fernandez da Ponte, senior vice president of PayPal’s Blockchain, Cryptocurrency and Digital Currency Group, said on Wednesday: “Making PYUSD available on the Solana blockchain furthers our goal of enabling a stable-value digital currency designed for commerce and payments. “It has become even more advanced,” he said. From the statement.

PayPal’s latest blockchain partnership forms part of the payments company’s broader foray into cryptocurrency. Earlier this week, paypal Digital Security Approval for Limited Trust Charter, a license for cryptocurrency custodians and stablecoin issuers to operate; according to Access the blockchain news site Ledger Insights.

PayPal isn’t the first payments company to adopt Solana. last fall, visa presentation Start USDC payments on the blockchain.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, crypto, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.

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