13 hours ago
PayPal Holdings (PYPL) Expands into Stellar Blockchain to Strengthen its Stablecoin
PayPal Holdings, Inc. (NASDAQ:PYPL) is . On June 11, the payment company confirmed bringing its PYUSD stablecoin to the stellar blockchain network. The move strengthens the dollar-pegged token's position in cross-border remittances and payment financing.
Denys Prykhodov /
While operating in the Ethereum and Solana blockchain, PayPal will expand to the stellar network to explore new areas like payment financing. The expansion should allow small and medium-sized businesses that face delayed receivables or pre-funding requirements to access new sources of real-time working capital.
By expanding its stablecoin into the Stellar Network, PayPal plans to leverage its high speed, low transaction costs, and ease of integration to enhance the utility of real-world payments commerce and microfinancing.
The expansion will also offer PayPal Holdings, Inc. (NASDAQ:PYPL) stablecoin holders access to a vast network of on and off-ramps. They will also enjoy access to digital wallets and connection to payment systems and vast payment networks. The stablecoin on the stellar network should also enhance liquidity and financing opportunities through payment financing.
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