PayPal Adds Stablecoin to Memecoin-Favorite Solana Blockchain
- The payments company launched PYUSD on Ethereum in August
- PayPal chose Solana for speed and low cost, despite outages
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PayPal Holdings Inc., the first large financial company to roll out a stablecoin, is adding its PayPal USD token to the Solana blockchain that is popular with issuers of memecoins.
The online payments company launched PYUSD on the Ethereum blockchain in August and later added the dollar-pegged currency to its Venmo peer-to-peer payments service in September.