The stablecoin PayPal USD (PYUSD) will launch on the Solana blockchain. It is hoped that this will make the use of the stablecoin faster and more cost-effective. The availability of PYUSD on Solana offers users greater overall flexibility because they can choose between multiple blockchains. Solana is known as a high-speed blockchain that can process large amounts of transactions at high speed and extremely low costs. This circumstance provides advantages particularly in the area of decentralized applications. Because Solana's technology meets these requirements, not only has the price of the native SOL token increased this year, but also the number of active users of the blockchain, who also have a high demand for stablecoins.
(CoinMarketCap.com)
From PayPal's perspective, Solana appears to be the optimal choice when it comes to scalability of payment solutions, the company said in a statement. Solana repeatedly struggles with total failures, which presents users with a difficult choice. Either they accept the higher fees on Ethereum and mitigate them by relying on Layer 2 solutions, or they use Solana and accept the occasional outages. PYUSD is available on PayPal and Venmo wallets and is also supported by many crypto exchanges, which do not form trading pairs with it, but do allow exchange for euros, US dollars or other stablecoins.
Paypal will continue to grow significantly. A giant has a stablecoin. Class. Operation becomes easier for us. Many people have Paypal and pay with it. But will we be more controlled as a result? It's exciting.
