{"id":31544,"date":"2024-05-29T16:06:55","date_gmt":"2024-05-29T16:06:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/paypal-stablecoin-pyusd-launches-on-solana\/"},"modified":"2024-05-29T16:06:55","modified_gmt":"2024-05-29T16:06:55","slug":"paypal-stablecoin-pyusd-launches-on-solana","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/paypal-stablecoin-pyusd-launches-on-solana\/","title":{"rendered":"PayPal stablecoin PYUSD launches on Solana"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/paypal-logo-with-visa-and-mastercard-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/paypal-logo-with-visa-and-mastercard-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/paypal-logo-with-visa-and-mastercard-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/paypal-logo-with-visa-and-mastercard-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">PayPal USD (PYUSD) is now live on the Solana blockchain.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Users can buy PYUSD via PayPal, Venmo, Crypto.com, Phantom and Paxos.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">PayPal USD (PYUSD), the stablecoin that payments giant <a href=\"https:\/\/coinjournal.net\/news\/tag\/paypal\/\">PayPal<\/a> launched in August 2023, is now live on <a href=\"https:\/\/coinjournal.net\/solana\/\">Solana<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Users on Solana can buy PYUSD via PayPal and Venmo wallets. Also announced as the first providers to allow fiat-to-crypto purchases for the stablecoin are Crypto.com, Phantom and Paxos.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">PayPal brings PYUSD to Solana<\/span><\/h2>\n<p><span style=\"font-weight: 400\">PayPal announced the availability of PYUSD on Solana at Consensus 2024 kicked off on May 29 in Austin, Texas, with the <\/span><span style=\"font-weight: 400\">stablecoin\u2019s launch on the blockchain coming several months after the <a href=\"https:\/\/coinjournal.net\/news\/paypal-launches-a-us-dollar-stablecoin-on-the-ethereum-blockchain\/\">initial rollout on the Ethereum mainnet<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a <a href=\"https:\/\/newsroom.paypal-corp.com\/2024-05-29-PayPal-USD-Stablecoin-Now-Available-on-Solana-Blockchain,-Providing-Faster,-Cheaper-Transactions-for-Consumers\" target=\"_blank\" rel=\"noopener\">press release<\/a>, the Paxos-issued stablecoin will leverage Solana to drive further adoption across commerce and payments.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Features that the PayPal USD team looked at in their decision to integrate Solana include cost-effectiveness, high transaction throughput, settlement speed and token extensions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The expanded functionality will bring fast and secure stablecoin payments via PYUSD to the more than 30 million merchants, PayPal said in a news release published on Wednesday.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cMaking PYUSD available on the Solana Blockchain furthers our mission of enabling a digital currency with a stable value designed for commerce &amp; payments,\u201d Jose Fernandez da Ponte, PayPal\u2019s SVP for Blockchain, Crypto &amp; Digital Currencies, said in a statement.<\/span><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400\">PayPal eyes growing stablecoin market<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The launch of PYUSD on Solana sees PayPal join Visa, WorldPay and Stripe among other top financial institutions that currently tap into Solana\u2019s blockchain technology. The stablecoin\u2019s support on Solana will therefore be key to PayPal and Paxos\u2019s mission to make PYUSD a global leader in the stablecoin market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Having a faster and cheaper stablecoin experience is an important aspect of this endeavour.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While Solana has previously suffered negativity amid network outages, its growth and stability have been steady. The network\u2019s capacity for up to 65,000 transactions per second at negligible costs contrasts with Ethereum\u2019s relatively slow 15 transactions per second performance. Fees on Ethereum are also way higher compared to Solana\u2019s.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cThe Solana network\u2019s speed and scalability make it the ideal blockchain for new payment solutions that are accessible, cost-effective, and instantaneous,\u201d Sheraz Shere, the general manager of payments at the Solana Foundation, said.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">According to Shere, the continued adoption of new payment solutions by industry behemoths like PayPal is helping push fintech innovation to the next level.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/paypal-stablecoin-pyusd-officially-launches-on-solana\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) PayPal USD (PYUSD) is now live on the Solana blockchain. Users can buy PYUSD via PayPal, Venmo, Crypto.com, Phantom and Paxos. PayPal USD (PYUSD), the stablecoin that payments giant PayPal launched in August 2023, is now live on Solana. Users on [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31544"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31544"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31545"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}