PayPal expands stablecoin PYUSD to Tron, Avalanche and 6 other chains

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PayPal is expanding its stablecoin PayPal USD (PYUSD) to eight new blockchains, seven of which are integrated via LayerZero's StarGate Hydra bridge. The new version PYUSD0 will be permissionless, fully compatible with PYUSD, and able to move cross-chain. The supported blockchains include Tron, Avalanche, Aptos, Abstract, Ink, Sei, Stable, along with Stellar in a separate integration.

LayerZero will handle the issuance, burning, and deployment of PYUSD0, while StarGate Hydra takes care of transactions. Currently, PYUSD is available on Ethereum, Solana, Arbitrum, and Stellar, becoming one of the most accessible stablecoins.

The stablecoin market valued at 295 billion USD could reach 2 trillion USD by 2028, driven by the GENIUS Act signed by President Trump. However, PYUSD with a market cap of 1.3 billion USD still lags far behind Tether (171.2 billion USD) and USDC (74.3 billion USD). PYUSD is issued by Paxos since August 2023.

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