PayPal’s PYUSD goes multichain – Tron, Avalanche, Aptos
PayPal partnered with blockchain infrastructure firm LayerZero to expand its dollar-backed token PYUSD to Tron, Avalanche, Aptos, and other networks, creating a permissionless version interoperable across multiple blockchains.
The expansion uses LayerZero's Stargate Hydra bridge, which enables transfers and minting of a new token called PYUSD0. The new token is fully fungible with PYUSD and designed for cross-chain use.
The integration covers eight new blockchains: Tron, Avalanche, Aptos, Abstract, Ink, Sei, Stable, and upgraded versions on Berachain and Flow. PayPal separately announced PYUSD's launch on Stellar, adding to existing support on Ethereum, Solana, and Arbitrum.
PayPal's token, issued by Paxos and introduced in August 2023, currently ranks 11th among global dollar-pegged tokens with a $1.3 billion market capitalization. The expansion allows users to transfer PYUSD between different blockchain networks without relying on centralized exchanges.
The integration covers eight new blockchains: Tron, Avalanche, Aptos, Abstract, Ink, Sei, Stable, and upgraded versions on Berachain and Flow. PayPal separately announced PYUSD's launch on Stellar, adding to existing support on Ethereum, Solana, and Arbitrum.
PayPal's token, issued by Paxos and introduced in August 2023, currently ranks 11th among global dollar-pegged tokens with a $1.3 billion market capitalization. The expansion allows users to transfer PYUSD between different blockchain networks without relying on centralized exchanges.
LayerZero Labs CEO Bryan Pellegrino said the integration "makes it obvious that we are at the start of a global financial market that breaks down borders and works around the clock." He added that users can move PYUSD between chains without depending on centralized banking infrastructure.
The PYUSD0 version maintains the same dollar backing as the original PYUSD but operates through LayerZero's cross-chain protocol. Users can convert between PYUSD and PYUSD0 tokens seamlessly across supported networks.
PayPal's expansion competes with larger rivals in the space. Tether's USDT leads with $171.2 billion in market capitalization, while Circle's USDC holds $74.3 billion. PayPal aims to increase adoption by making its token available across more blockchain ecosystems.
The Stargate Hydra bridge technology enables unified liquidity pools across different blockchains. This allows PYUSD holders to use their tokens for payments, trading, and other applications on networks beyond Ethereum and Solana.
PayPal has not disclosed specific timelines for when PYUSD will become fully operational on each new blockchain. The company indicated it will roll out support gradually across the eight announced networks.
The PYUSD0 version maintains the same dollar backing as the original PYUSD but operates through LayerZero's cross-chain protocol. Users can convert between PYUSD and PYUSD0 tokens seamlessly across supported networks.
PayPal's expansion competes with larger rivals in the space. Tether's USDT leads with $171.2 billion in market capitalization, while Circle's USDC holds $74.3 billion. PayPal aims to increase adoption by making its token available across more blockchain ecosystems.
The Stargate Hydra bridge technology enables unified liquidity pools across different blockchains. This allows PYUSD holders to use their tokens for payments, trading, and other applications on networks beyond Ethereum and Solana.
PayPal has not disclosed specific timelines for when PYUSD will become fully operational on each new blockchain. The company indicated it will roll out support gradually across the eight announced networks.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
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