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PayPal invests in the L1 Blockchain network Stable to expand PYUSD issuance and applicability.
According to news from Hashi Chain, PayPal announced an investment in the L1 Blockchain network Stable, which focuses on stablecoins, aiming to expand the issuance, usability, and liquidity of PYUSD. Users will be able to use the stablecoin PYUSD issued by PayPal for commercial and financial transactions on the Stable chain. In addition, PayPal's global venture capital arm, PayPal Ventures, also participated in Stable's latest round of financing. Stable plans to integrate PYUSD into the Stable chain and leverage the integration achieved by LayerZero to programmatically enable interoperability between blockchains. In the future, Stable will also explore providing cross-chain compatibility and deposit/withdrawal functions for PYUSD, unlocking new application scenarios in different blockchain ecosystems. Meanwhile, Stable and PayPal will explore potential new product developments around payment and stablecoin usability in the coming months.
$PYUSD #Cryptocurrency Blockchain #Stablecoins PayPal #LayerZero