Exciting news in the world of blockchain technology as Stable, a Layer 1 blockchain designed for stablecoin payments, has announced that PayPal USD (PYUSD) is now supported on the Stablechain for both commerce and financial transactions. In addition to this integration, PayPal Ventures has also made an investment in Stable’s latest funding round.
This integration is made possible through the utilization of LayerZero’s cross-chain technology, which enables PYUSD to seamlessly transfer between different blockchains while taking advantage of Stable’s efficient processing speeds and low transaction fees. This move is expected to streamline stablecoin payments, making them faster and more cost-effective for users.
Furthermore, Stable and PayPal are collaborating on future projects to enhance the utility of PYUSD, such as exploring cross-chain compatibility and developing onramp/offramp solutions.
This announcement follows Stable’s successful seed funding round, where they raised $28 million with backing from industry players like Bitfinex and Hack VC.
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