Paxos Labs Launches Stablecoin Transfer Tool

Paxos Labs, a company developing infrastructure for stablecoins, has introduced Amplify Transit, a new service for converting and transferring stablecoins between different blockchains. The platform is already live on Robinhood Chain, where it processed nearly $30 million in transactions during its first two weeks after launching on July 1.

Transit allows companies to exchange USDC, USDG, and PYUSD through a single API while receiving a fixed conversion rate and predictable fees before each transaction is completed. The service currently supports Ethereum and Robinhood Chain, but its architecture is designed to work with additional networks in the future.

The company also announced that Morpho, a decentralized lending protocol, Jumper, a cross-chain bridge aggregator, Across, a cross-chain interoperability protocol, and Arcus, a blockchain infrastructure provider, have chosen Transit for their integrations on Robinhood Chain.

Amplify Transit is part of the broader Amplify platform from Paxos Labs. The infrastructure also includes tools for launching branded stablecoins and earning yield on stablecoin balances, allowing businesses to manage several digital asset services through a single integration.

Image: Magnific