PayPal Stablecoin Goes Permissionless Across Nine Blockchains, Drives Attention to Best Wallet

PayPal is launching a permissionless version of its $PYUSD stablecoin across Tron, Avalanche, and seven other blockchains.

All will be achieved through Stargate, a bridge service that connects over 80 blockchains. LayerZero, which acquired Stargate last month, used its Hydra model to expand $PYUSD to these nine networks.

With crypto adoption accelerating, now signals a prime time to buy $BEST. As the native token of Best Wallet, it’s a great way to stay ahead of this mainstream shift.

PayPal Debuts Permissionless Version of $PYUSD Stablecoin

Yesterday, LayerZero announced that $PYUSD will expand into a permissionless version dubbed $PYUSDO. It’ll be fully fungible with the original version and interoperable across multiple networks.

Beyond Tron and Avalanche, the rollout covers Aptos, Abstract, Ink, Sei, and Stable. Existing permissionless versions on Berachain ($BBYUSD) and Flow ($USDF) will upgrade to $PYUSD0.

‘As the stablecoin market continues its rapid growth beyond $270B, innovations like this are essential for creating the seamless, interoperable financial infrastructure that users and developers demand.’ — David Weber, Head of Ecosystem, PayPal USD.

In another update, PayPal also confirmed that $PYUSDY has launched on Stellar. This way, you can benefit from five-second transaction finality and easier dollar-denominated savings.

Following these developments, $PYUSD has surpassed $1.3B in market capitalization for the first ever time.

As stablecoins like $PYUSD continue to attract mainstream attention, managing your digital assets securely becomes increasingly important. This is where Best Wallet comes in.

Securely Manage 1K+ Digital Assets on Best Wallet

Available on Google Play and iOS, Best Wallet is a secure, non-custodial app that gives you complete control over your private keys to keep your digital assets safe.

Extra protection comes from 2FA, biometrics, local encryption, and encrypted cloud backups to guard against unauthorized access.

Beyond security, it’s an easy way to manage, buy, sell, and swap over 1K+ digital assets while on the go – spanning stablecoins like $USDT and $USDC, top cryptos like $BTC and $ETH, and even the best meme coins.

At the moment, the mobile app supports major networks like Ethereum, Polygon, and BNB Chain. It’s on track to expand across 60 networks soon, which will give you even more flexibility to manage your crypto activity in one place.

The wallet already has some notable features. This includes its built-in launchpad that gives you access to top crypto presales. Meanwhile, its swap engine scans 330+ DEXs and 30 bridges to ensure you benefit from the best rates on the market.

Even more functions are on the way, including market intel analytics, an NFT gallery, and a rewards hub. Each of these new enhancements is powered by $BEST, as 25% of its total token supply is set aside for product development.

$BEST also unlocks governance rights, reduces gas fees, and offers staking rewards at an 83% APY.

Given its perks, it’s no wonder $BEST has nearly raised $16M on presale, backed by whales investing significant amounts of capital (including eye-boggling amounts of $70.2K, $50.9K, and $49.5K).

This is even more impressive when considering that you can currently buy $BEST for just $0.025665. To join the presale at this ultra-low price, you’ll want to act fast. After the new app developments launch, the token’s anticipated to spike to $0.072.

Check out our Best Wallet review for more information.

This article is for information only and not financial advice. Always do your own research before making any type of crypto investment. 

Authored by Leah Waters for Bitcoinist: https://bitcoinist.com/analysts-eye-bitcoins-uptober-surge-fed-decision-bitcoin-hyper-to-explode