{"id":137627,"date":"2024-09-21T08:30:06","date_gmt":"2024-09-21T05:30:06","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137627"},"modified":"2024-09-20T15:10:13","modified_gmt":"2024-09-20T12:10:13","slug":"paypal-launches-stablecoin-on-solana-leaving-ethereum-behind","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/paypal-launches-stablecoin-on-solana-leaving-ethereum-behind\/","title":{"rendered":"PayPal Launches Stablecoin on Solana, Leaving Ethereum Behind"},"content":{"rendered":"<p>Jos\u00e9 Fern\u00e1ndez da Ponte, head of PayPal\u2019s Blockchain, Crypto, and Digital Currencies unit, emphasized <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/solana\/\">Solana\u2019s<\/a><\/strong> ability to handle high transaction volumes quickly and affordably.<\/p>\n<p>The official announcement was made on May 29, highlighting Solana\u2019s efficiency in processing transactions. Sheraz Shere from the Solana Foundation praised its speed and scalability, making it suitable for modern payment systems.<\/p>\n<p>In conjunction with the launch, PayPal is <strong><a href=\"https:\/\/developer.paypal.com\/community\/blog\/build-with-pyusd-on-solana\/\" rel=\"nofollow\">hosting<\/a><\/strong> the Global PYUSD Portal Hackathon, offering a total of 40,000 <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/paypal-usd\/\">PYUSD<\/a><\/strong> in prizes. The event will showcase the top winners at the Solana Hacker House in Hong Kong from October 24 to 26, 2024.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-137600\" href=\"\" title=\"\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\"><\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Additionally, the TrueX exchange, started by former Coinbase employees, has chosen to utilize PYUSD over <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/usd-coin\/\">USDC<\/a><\/strong>. Data indicates that Solana currently holds a slightly larger supply of PYUSD compared to Ethereum.<\/p>\n<p>PYUSD is a stablecoin backed by U.S. dollar reserves, cash equivalents, and Treasury Bonds, maintaining a 1:1 peg to the dollar. It ranks as the fifth largest stablecoin by market capitalization, with approximately $732 million in total value and a trading volume of around $32 million over the last 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal has announced the launch of its stablecoin, PYUSD, on the Solana blockchain, citing limitations in Ethereum for payment solutions.<\/p>\n","protected":false},"author":7,"featured_media":38370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24,23],"tags":[280,424,271,266,71],"coin_category":[],"class_list":["post-137627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-blockchain","tag-coinbase","tag-crypto","tag-ethereum","tag-solana","tag-stablecoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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