PayPal, the payments giant, has announced that its stablecoin, PYUSD, will now be available on the Solana blockchain.
Benefits of Solana Integration
Solana is known for its high transaction speeds and low costs. This makes it an ideal platform for PYUSD, which is used for payment transactions.
Remittance Feature
PayPal recently introduced a feature that allows users to send remittances using PYUSD to over 160 countries through Xoom, PayPal’s money transfer service.
Quote from PayPal Executive
Jose Fernandez da Ponte, PayPal’s senior vice president of Blockchain, Cryptocurrency, and Digital Currency Group, said:
“This expansion builds on our goal of driving mainstream adoption of cryptocurrencies while offering an easy and cost-effective way to send money internationally.”
