The launch of PayPal’s stablecoin took place on August 8, 2023. Although initially, PYUSD did not make a significant impression, its supply recently exceeded $500 million.
This stablecoin was initially issued on the Ethereum blockchain and is now also available on the Solana blockchain. The market capitalization of PYUSD exceeds $598 million, but its share in transactions remains modest.
Analysts predict that this stablecoin will become more attractive to investors in the future. Currently, the monthly turnover on Solana is about $1 billion.
Researchers note a growing interest from institutional investors in PYUSD, who use it for capital transfers.
According to IntoTheBlock, over the past 7 days, the transaction volume for amounts over $100,000 has approached $500 million, indicating increased interest in PayPal’s stablecoin.
