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PayPal Expands PYUSD Stablecoin to Stellar, Joining Ethereum and Solana

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The payment giant's stablecoin product will soon be available on the blockchain network behind XLM.

PayPal's native stablecoin, PayPal USD, will soon be available on the Stellar blockchain, pending regulatory approval.

The payment giant said Wednesday that its PYUSD token will run on the crypto network behind the 19th biggest digital coin by market cap, XLM, if approved by the New York State Department of Financial Services.

PayPal launched PYUSD in 2023 with hopes to break into the crowded stablecoin market. Paxos Trust Co. issues the digital token, which is already available on Ethereum and Solana blockchains.