PayPal invests in L1 blockchain project Stable to expand PYUSD distribution and application
ChainCatcher news, according to PR Newswire, Stable, a layer-1 blockchain network focused on stablecoins, announced that PayPal Ventures has made a strategic investment in its latest funding round. Users will be able to use PayPal USD (PYUSD) for commercial and financial transactions on Stablechain.
Stable will bridge PYUSD to its blockchain network through integration with LayerZero, leveraging Stable’s ultra-fast network processing speed and reduced fee structure to provide near-instant finality and an economic model favorable for commercial transactions. The two parties will also explore providing cross-chain compatibility and deposit/withdrawal functions for PYUSD, unlocking new use cases for stablecoins across different blockchain ecosystems.
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