Crypto News Update: PayPal Expands PYUSD Stablecoin to Solana Network

August 2, 2025 — In a strategic move to improve transaction speed and reduce costs, PayPal has officially launched its PYUSD stablecoin on the Solana blockchain, expanding beyond its original Ethereum base.

🪙 What Is PYUSD?

PYUSD is a U.S. dollar-backed stablecoin issued by Paxos and integrated into PayPal’s ecosystem for use in:

• Peer-to-peer payments
• Online purchases
• Crypto trading within PayPal and Venmo

Originally launched on Ethereum in 2023, it has now gone multi-chain.

⚡ Why Solana?

• Faster transactions: Up to 65,000 TPS
• Lower fees: Fractions of a cent per transaction
• More scalable than Ethereum for day-to-day payments

💬 Solana Labs CEO Anatoly Yakovenko stated:

“This partnership shows how real-world finance is embracing next-gen blockchain infrastructure.”

🏦 Adoption Impact

• PayPal merchants and users can now send PYUSD on Solana using PayPal/Venmo apps.
• DeFi protocols on Solana expected to integrate PYUSD liquidity pools.
• Increased credibility for Solana as a payment chain, not just DeFi and NFTs.

🔄 What This Means for You on Xoibit

Xoibit supports PYUSD trading and deposits, and we’re preparing to enable Solana-based PYUSD support within the next few weeks. This will offer users faster transactions and lower withdrawal fees.

Stay tuned for further integration updates.