PayPal’s PYUSD stablecoin is now available on Solana and Ethereum, offering a chain-agnostic experience for its users.
PayPal has chosen the Solana blockchain to expand its stablecoin, PayPal USD (PYUSD), marking its first move beyond the Ethereum ecosystem.
According to an announcement on May 28, PYUSD has been added to the Solana network, allowing users to perform transactions at a lower cost. The move seeks to expand the uses of PYUSD stablecoin as a payment method for small and daily purchases.
Solana processes up to 65,000 transactions per second at costs as low as $0.0025, significantly outpacing Ethereum’s 15 transactions per second with higher fees, which may vary from $1 to $50 during times of congestion. In other words, while a transaction on Ethereum could take a few minutes to process, the same transfer using Solana could be completed in less than a minute.
