PayPal announced plans to integrate its stablecoin PayPal USD (PYUSD) with the Stellar blockchain, pending regulatory approval. This strategic move aims to leverage Stellar’s high-speed, low-cost infrastructure for improved cross-border payment efficiency and global financial accessibility.
Subject to approval by the New York State Department of Financial Services, the expansion would mark PYUSD’s deployment on a third blockchain following existing support on Ethereum and Solana. Stellar’s scalable network and minimal transaction fees are expected to significantly boost PYUSD’s utility in international remittances and payment applications.
PYUSD remains issued by Paxos Trust Co. with backing from cash equivalents and U.S. short-term treasuries. Currently ranked as the world’s 106th largest cryptocurrency by market capitalization, this expansion forms part of PayPal’s broader strategy to compete effectively in the stablecoin market dominated by USDT and USDC while advancing blockchain adoption in mainstream finance.