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PayPal Expands PYUSD Stablecoin to Aptos Blockchain via LayerZero and Stargate

PayPal Expands PYUSD Stablecoin to Aptos Blockchain via LayerZero and Stargate

PayPal Ventures’ strategic investment in Stable supports PYUSD’s integration on Stablechain, aiming to drive global stablecoin adoption with cross-chain interoperability and reduced transaction fees.

APT
PYUSD

Fact Check
The evidence strongly supports the statement. Multiple sources, including The Block and Wu Blockchain, confirm that PayPal's stablecoin (PYUSD) is expanding to the Aptos blockchain. The evidence also explicitly states that this integration is 'LayerZero-enabled'. While the specific mention of 'Stargate' is not present in the provided snippets, the core claims of the expansion to Aptos via LayerZero's technology are well-corroborated by credible, recent sources.
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Summary

PayPal has invested in Stable, a layer-1 blockchain platform, to accelerate adoption of its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD). The integration will enable PYUSD use on Stablechain for commerce and financial transactions, leveraging LayerZero for cross-chain interoperability, reduced fees, and near-instant finality. Stable raised $28 million in seed funding with backing from PayPal Ventures, Bitfinex, and Hack VC. Company executives highlighted the collaboration’s goal of unlocking new commerce-related use cases and expanding stablecoin adoption within the global financial system.

Terms & Concepts
  • PYUSD: PayPal's U.S. dollar-backed stablecoin designed for low-cost, real-time transactions within the crypto ecosystem.
  • LayerZero: An interoperability protocol enabling cross-chain communication and compatibility for decentralized applications and digital assets.
  • Stablechain: The layer-1 blockchain platform developed by Stable, designed to host and expand stablecoin-focused applications including PayPal USD.