PayPal, the online payment powerhouse, has just unleashed its PYUSD stablecoin onto the cutting-edge Solana blockchain.
In a groundbreaking press release, the company has announced its bold move to expand its stablecoin network. This strategic decision will not only make PYUSD lightning fast and more affordable for users but also provide them with a wider range of blockchain options to choose from.
The Solana network, renowned for its lightning speed and low transaction fees, is set to elevate the PYUSD experience to new heights. This marks a significant milestone as PYUSD ventures beyond Ethereum (ETH) for the first time, opening doors to endless possibilities.
āImportant features to provide to merchants if PYUSD is to grow in its utility to broader commercial segments,ā said PayPal as it revealed its plans to expand the utility of its stablecoin to a wider range of commercial sectors. The decision was fueled by the recognition of key features that are crucial for merchants to thrive.
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“Solana’s Impact: Revolutionizing PYUSD’s Everyday Use” emphasized the company, as it aims to solidify the stablecoin’s position as a go-to currency for daily transactions.
Revolutionary Solana (SOL) has faced its fair share of challenges in the past, but its accomplishments cannot be ignored. With lightning-fast processing speeds of up to 65,000 transactions per second, Solana leaves its competitors in the dust.
These transactions cost a mere $0.0025, making it the most cost-effective option on the market. In comparison, Ethereum’s sluggish 15 transactions per second and hefty $50 fees during peak times pale in comparison.