PayPal Announces It Will Add Its Own Token to 7 More Different Altcoin Networks

PayPal's stablecoin, PayPal USD ($PYUSD), is expanding to Tron, Avalanche, Sei, and more blockchains thanks to LayerZero integration.

This move, which takes place via LayerZero’s Stargate Hydra bridge, significantly grows $PYUSD’s ecosystem.

Issued by Paxos Trust Company, $PYUSD was initially launched on Ethereum, later expanding to Solana and Arbitrum, and today to Stellar. With the new announcement, a version called “PYUSD0” will be available on seven new networks: Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron. Additionally, existing bridged versions of $PYUSD on Berachain (BYUSD) and Flow (USDF) will also be upgraded to PYUSD0.

According to LayerZero, PYUSD0 is fully fungible and compatible with the native $PYUSD. This means that whether users hold $PYUSD on mainnets like Ethereum or as PYUSD0 on LayerZero-supported chains, the token is equally exchangeable 1:1 for US dollars.

This expansion builds on LayerZero's integration of the omnichain fungible token (OFT) standard, announced last November. At the time, $PYUSD eliminated the fragmented liquidity problem between Ethereum and Solana, allowing users to make cross-chain transfers without the need for centralized platforms.

*This is not investment advice.