PayPal’s US Dollar-pegged stablecoin has integrated cross-chain bridge LayerZero to allow native transfers of PYUSD between the two networks.
PayPal’s United States dollar-pegged stablecoin, PayPal USD (PYUSD) has integrated with the cross-blockchain bridging protocol LayerZero to enable transfers between Ethereum and Solana.
In a Nov. 12 statement, LayerZero said that PYUSD now uses its Omnichain Fungible Token (OFT) Standard to enable the crosschain transfers, which will “enable users who self-custody their tokens to seamlessly transfer assets between blockchains — without needing to rely on centralized platforms like Venmo or PayPal.”
Source: LayerZero
