PYUSD uses LayerZero to simplify transfers between Ethereum and Solana

Odaily News PayPal’s U.S. dollar stablecoin PYUSD is now using LayerZero to simplify transfers between Ethereum and Solana, according to an announcement released on Tuesday. “This integration eliminates liquidity fragmentation, ensuring that users and businesses can trade quickly, securely, and cost-effectively,” the statement said. Data shows that the market value of PYUSD on Ethereum has remained relatively unchanged in recent months at around $350 million. However, according to data from the Dune Analytics dashboard, the supply of PYUSD on Solana has plummeted from $660 million in August to $186 million. “We believe PYUSD holders will welcome the flexibility and convenience provided by LayerZero,” said Jose Fernandez da Ponte, senior vice president of blockchain, cryptocurrency and digital currency at PayPal. (The Block)