Paypal's PYUSD stablecoin achieved a significant milestone by hitting the $1 billion market cap for the first time since its inception in August 2023. Initially launched on Ethereum, the stablecoin has now predominantly migrated to the Solana blockchain.
This milestone underlines the growing popularity and adoption of PYUSD within the cryptocurrency market, showcasing Paypal's increasing influence in the stablecoin sector.
The transition from Ethereum to Solana indicates a strategic move by Paypal to leverage the latter's speed and lower transaction costs, enabling wider use and integration.
