Stable, the Layer 1 blockchain powered by USDT, now supports PayPal USD (PYUSD) for seamless financial transactions. PYUSD, a stablecoin pegged 1:1 to the US Dollar, can now be used for commerce and finance across the Stablechain. Additionally, PayPal Ventures has invested in Stable’s latest funding round to accelerate development.
Sam Kazemian, CTO of Stable, said, “PayPal is an experienced and flexible platform for global payments. Together, we will advance cross-border transactions using digital assets and unlock new opportunities for consumers.”
Stable integrates PYUSD using LayerZero to bridge blockchains programmatically. The network’s fast processing and low fees allow near-instant finality, making it ideal for commerce and financial applications.
Furthermore, Stable plans to explore cross-chain compatibility and onramp/offramp capabilities for PYUSD. This will broaden stablecoin utility across multiple blockchain ecosystems. PayPal and Stable will also explore future products around payments and stablecoin adoption.
David Weber, Head of PYUSD Ecosystem at PayPal, said, “This partnership expands PYUSD’s utility and adoption. Stable’s fast and frictionless stablecoin transactions enhance user experiences and unlock new commerce use cases.”
Amman Bhasin, Partner at PayPal Ventures, added, “Stable targets emerging markets where dollar-based payments matter most. Their trusted distribution strategy enables rapid adoption and innovative use cases.”
Stable recently announced key executive hires, including Co-CEO Brian Mehler and CTO Sam Kazemian. This follows the company’s $28 million seed funding, with participation from Bitfinex, Hack VC, and other crypto investors.
The company also unveiled its 2025 roadmap, promising more updates on development and rollout in the coming months, aiming to expand stablecoin adoption and PYUSD integration.
Looking for more updates on financial innovation and revenue-driven technology? Visit RevTech News for expert insights and the latest trends.
News Source: Prnewswire.com
