Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

PayPal’s PYUSD stablecoin now supports cross-chain transactions via LayerZero integration

Source Cryptopolitan

PayPal’s stablecoin PYUSD has integrated LayerZero to facilitate smoother transfers between Ethereum and Solana. The intention is to make such transactions more efficient by minimizing liquidity fragmentation, which, according to the corporation, should provide users and businesses with faster, more secure, and more inexpensive options.

LayerZero integration boosts seamless transactions for PYUSD holders

PayPal’s senior vice president, Jose Fernandez da Ponte, highlighted the benefits of integration for PYUSD holders. He emphasized the added seamlessness and flexibility that LayerZero technology provides for such consumers.

🔵 PayPal USD (PYUSD) integrates LayerZero to connect across chains, enabling seamless transfers between Ethereum and Solana.

By utilizing LayerZero, users who self-custody their PYUSD tokens can seamlessly transfer assets between blockchains — without needing to rely on… pic.twitter.com/4MxgW8bzYV
— LayerZero (@LayerZero_Core) November 13, 2024

According to the statement:

“The integration eliminates liquidity fragmentation and ensures fast, secure, and cost-effective transactions for both users and businesses.”

~ LayerZero

As per DeFiLlama’s data, the market cap of PYUSD on Ethereum has remained relatively stable in recent months, hovering around $350 million. However, its supply on Solana has dropped significantly, from over $660 million in August to just $186 million.

LayerZero’s OFT standard facilitates secure, cross-chain transfers for PYUSD

LayerZero said that PYUSD now uses its Omnichain Fungible Token (OFT) Standard to enable the cross chain transfers. According to LayerZero Labs’ CEO Bryan Pellegrino, the OFT standard unlocks a new level of interoperability for stablecoins.

To improve security, PayPal’s collaboration with Paxos and LayerZero to ensure that the PYUSD currency transfer process undergoes verification checks during transactions with PayPal’s stablecoin PYUSD.

The security framework, which initially includes verifiers such as Paxos, Google Cloud, and LayerZero Labs, employs DVNs to secure transactions in a resilient and diversified security layer that protects all sizes of transfers.

The payments company is expanding its business offerings and attracting small and medium-sized businesses under the leadership of CEO Alex Chriss, who took over the company in January. Additionally, the company is working to improve the business and increase its margins, which have declined over the past few years.

PYUSD considerably lags behind dollar-pegged stablecoins Tether (USDT) and USDC. According to data from CoinMarketCap, the two leading stablecoins command market capitalizations of almost $118 billion and $35 billion, respectively.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.

Author FXStreet

Aug 22, 2023

Prioritize filling the $27,000 gap and even try higher.

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Bitcoin Price Forecast: BTC slips below $64,000 as hawkish Fed stance weighs on risk appetite Bitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.

Author FXStreet

Jun 18, Thu

Bitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.

WTI consolidates below $72.00 as traders monitor geopolitical developments West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.

Author FXStreet

Yesterday 01: 25

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.

Gold recovers above $4,100 as traders assess US-Iran conflict Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.

Author FXStreet

Yesterday 01: 28

Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.

Popular Symbols