PayPal's PYUSD stablecoin is making significant strides in the blockchain ecosystem, having recently expanded its availability to nine new blockchains. This move comes on the heels of enhanced support from LayerZero, an interoperability protocol that aims to connect various blockchain networks seamlessly. The source reports that this expansion is set to enhance the usability and reach of PYUSD across different platforms.
Newly Supported Blockchains
The newly supported blockchains include:
- Abstract
- Aptos
- Avalanche
- Ink
- Sei
- Stable
- Tron
Expansion of PYUSD
Broadening the horizons for PYUSD users. This expansion was facilitated by Stargate, a bridge that links over 80 blockchains, which LayerZero acquired last month, enhancing its capabilities in the crypto space.
Market Capitalization and Corporate Adoption
As of Thursday, PYUSD's market capitalization has soared to an all-time high of $13 billion, solidifying its position as a formidable player in the stablecoin market. Notably, a recent survey revealed that 36% of corporations are now utilizing PYUSD, highlighting its growing acceptance among corporate users and its potential to compete with other established stablecoins.
As of now, Base continues to thrive as a versatile platform, attracting a diverse array of applications across decentralized finance (DeFi), gaming, and consumer sectors. For a deeper understanding of its ongoing developments, check out the full article on the diverse ecosystem of applications hosted by Base.
