blockworks.co
PayPal Ventures has invested in Stable, a new layer 1 blockchain network designed for stablecoin-based payments, while also enabling permissionless use of PayPal USD ($PYUSD) on the platform.
The announcement is part of PayPal’s ongoing effort to extend $PYUSD’s reach across multiple ecosystems. Issued by Paxos Trust Company and pegged 1:1 to the U.S. dollar, $PYUSD can now be used for commerce and peer-to-peer payments directly on the Stablechain.
Stable said the integration will leverage LayerZero technology for cross-chain interoperability, making $PYUSD accessible across different networks. The firm also plans to develop onramps and offramps for the stablecoin, with a focus on emerging markets where dollar-backed transactions are in high demand.
Sam Kazemian, Stable’s recently appointed CTO, described the collaboration as a step toward reducing friction in global payments. “Our teams are aligned on the clear benefits that digital asset implementation can bring for consumers, making them a perfect fit to help us bring about the next true advancement in cross-border transactions,” said Kazemian.
PayPal framed the move as part of a strategy to build practical stablecoin use cases, noting that Stable’s fee structure and settlement speed make it suited for commerce. Amman Bhasin, partner at PayPal Ventures, suggested the investment reflects a focus on real-world adoption in underserved regions. Stable recently closed a $28 million seed round with participation from Bitfinex and Hack VC and outlined a 2025 development roadmap.