<p><span class="legendSpanClass"><span class="xn-location"><strong>SAN JOSE</strong> </span></span>&#8212; PayPal Holdings announced that PayPal USD (PYUSD) is now available on the <u><a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=3194370294&;u=https%3A%2F%2Fsolscan.io%2Ftoken%2F2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo&;a=Solana+blockchain" target="_blank" rel="nofollow noopener"><span title="">Solana</span> blockchain</a></u>, making PayPal&#8217;s <span title="">stablecoin</span> faster and cheaper to use. The availability of PYUSD on <span title="">Solana</span> provides users with the choice of multiple blockchains allowing for increased flexibility and control.</p>
<p class="wd_responsive-img"><img src="https://newsroom.paypal-corp.com/image/PYUSD_Solanav_1x1.png" alt="PayPal USD Stablecoin Now Available on Solana Blockchain, Providing Faster, Cheaper Transactions for Consumers" /></p>
<p>The <span title="">Solana</span> blockchain is known for processing massive amounts of transactions at high speeds with extremely low costs, providing significant benefits for commerce use cases. As the most used blockchain for <span title="">stablecoin</span> transfers, according to data from blockchain analytics platform <a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=2892876162&;u=https%3A%2F%2Fapp.artemis.xyz%2Fstablecoins%3FstablecoinBreakdown%3Dchain%26granularity%3Dmonthly%26chain%3Dall&;a=Artemis" target="_blank" rel="nofollow noopener">Artemis</a>, <span title="">Solana</span> has emerged as the leading blockchain to run tokenized transactions and is ideal for PYUSD as it continues to be used for payment use cases.</p>
<p>&#8220;For more than 25 years, PayPal has been at the forefront of digital commerce, revolutionizing commerce by providing a trusted experience between consumers and merchants around the world. PayPal USD was created with the intent to revolutionize commerce again by providing a fast, easy, and inexpensive payment method for the next evolution of the digital economy,&#8221; said <span class="xn-person">Jose Fernandez da Ponte</span>, Senior Vice President of the Blockchain, <span title="">Cryptocurrency</span>, and Digital Currency Group, PayPal. &#8220;Making PYUSD available on the <span title="">Solana</span> blockchain furthers our goal of enabling a digital currency with a stable value designed for commerce and payments.&#8221;</p>
<p>&#8220;The <span title="">Solana</span> network&#8217;s speed and scalability make it the ideal blockchain for new payment solutions that are accessible, cost-effective, and instantaneous,&#8221; said <span class="xn-person">Sheraz Shere</span>, GM of Payments at the <span title="">Solana</span> Foundation. &#8220;Continued adoption from industry participants like PayPal helps realize the next generation of fintech innovation.&#8221;</p>
<p>The simplified experience of PayPal and Venmo wallets show PYUSD as a unified balance regardless of the blockchain. This allows for increased ease of use and when transferring out to external wallets, users have the choice to send PYUSD on <span title="">Ethereum</span> or <span title="">Solana</span>. In addition to the PayPal and Venmo wallets, <a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=319551378&;u=https%3A%2F%2Fcrypto.com%2F&;a=Crypto.com%2C" target="_blank" rel="nofollow noopener"><span title="">Crypto</span>.com,</a> <a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=299666146&;u=https%3A%2F%2Fphantom.app%2F&;a=Phantom" target="_blank" rel="nofollow noopener">Phantom</a> and <a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=4010980203&;u=https%3A%2F%2Fpaxos.com%2F&;a=Paxos" target="_blank" rel="nofollow noopener">Paxos</a> are three of the first places to buy PYUSD on <span title="">Solana</span>, enabling a seamless fiat-to-<span title="">crypto</span> experience for consumers and enterprises.</p>
<p>PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos and its products – including expansion to new blockchains – are subject to regulatory oversight by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD.</p>
<p>Issuance and custody of PayPal USD is performed by Paxos Trust Company, LLC. Learn more in <a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=2659576102&;u=https%3A%2F%2Fwww.paypal.com%2Fus%2Flegalhub%2Fcryptocurrencies-tnc%3Flocale.x%3Den_US&;a=PayPal%27s+Cryptocurrency+Terms" target="_blank" rel="nofollow noopener">PayPal&#8217;s <span title="">Cryptocurrency</span> Terms</a>, and in the <u><a class="wd_external" href="https://c212.net/c/link/?t=0&;l=en&;o=4177255-1&;h=3623046426&;u=https%3A%2F%2Fpaxos.com%2Fstablecoin-terms-conditions%2F&;a=Paxos+Terms" target="_blank" rel="nofollow noopener">Paxos Terms</a></u> that also apply to PYUSD.</p>
<p>PayPal, Inc. is licensed to engage in virtual currency business activity by the <span class="xn-location">New York State</span> Department of Financial Services. Buying, selling, transferring, and holding <span title="">cryptocurrency</span> with PayPal is not available in <span class="xn-location">Hawaii</span> and where prohibited by law.</p>

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