PayPal USD, the fiat-backed stablecoin launched by one of the world’s most recognizable brands, is finding a home for itself within Solana’s booming DeFi ecosystem.
When PYUSD launched on Solana in late May, many network participants saw it as an inferior alternative to established stablecoins like Circle’s USDC. However, a meteoric rise in PYUSD supply in recent weeks suggests that there may be more demand for PayPal USD than originally anticipated.
PYUSD Supply on Solana Up 198% in Two Weeks, What’s Driving PayPal USD’s Explosive Growth??
When PYUSD launched on Solana in late May, many network participants saw it as an inferior alternative to established stablecoins like Circle’s USDC. However, a meteoric rise in PYUSD supply in recent weeks suggests that there may be more demand for PayPal USD than originally anticipated.
PYUSD Supply on Solana Up 198% in Two Weeks, What’s Driving PayPal USD’s Explosive Growth??
2 months ago
2 months ago
In response Pokemon to his Publication
I think it's because PayPal has been licensed for crypto-currencies and it's easy to invest via the app. Everyone is moving towards online banking and I wouldn't be surprised if others follow suit, like Revolut for example.
