PayPal and LayerZero introduce PYUSD0, a permissionless token available through Stargate Hydra, expanding PYUSD availability to nine new blockchains

PayPal and interoperability protocol LayerZero have introduced PYUSD0, a permissionless version of PayPal’s U.S. dollar stablecoin PYUSD, to expand its reach across multiple non‑PayPal-controlled blockchains. PYUSD0 is designed to be fully fungible with the original PYUSD issued by Paxos and will be minted, burned, and deployed via LayerZero’s infrastructure, with transfers facilitated through the new Stargate Hydra interface. This initiative follows PayPal’s prior on-chain support on Ethereum and Solana and coincides with PYUSD’s broader expansion, including recent availability on Stellar at the protocol level and in more than 70 PayPal account markets globally. Through the collaboration, PYUSD0 becomes available on at least eight additional networks—Tron, Avalanche, Aptos, Abstract, Ink, Sei, and Stable, while existing permissionless representations on Berachain (BBYUSD) and Flow (USDF) are set to upgrade to PYUSD0, standardizing the token across these ecosystems. Stargate Hydra serves as the liquidity and bridging layer, enabling cross-chain movement of PYUSD0 without relying on centralized, permissioned bridges. For developers and users, this significantly broadens where PYUSD-compatible liquidity can exist, potentially making PYUSD one of the more widely accessible dollar stablecoins across both traditional fintech rails (inside PayPal) and public blockchain infrastructure. Strategically, PYUSD0 positions PayPal’s stablecoin more deeply within the multi-chain DeFi and Web3 stack, allowing permissionless integrations in applications that require composable, on-chain assets not gated by PayPal’s own platform. For LayerZero, the launch showcases its role as an interoperability layer for regulated stablecoins, using Stargate Hydra to connect liquidity and transfer routes across heterogeneous chains. The expansion reflects a broader trend of large payment firms pushing their stablecoins beyond a single base chain, aiming to capture both consumer payments use cases and on-chain financial activity across a wide set of networks.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• PayPal expands PYUSD stablecoin to Tron, Avalanche and 6 other ... (tradingview.com)
• LayerZero (x.com)
• PYUSD Resource Center - PayPal Developer (developer.paypal.com)
• PAYPAL BRINGS PAYPAL USD TO USERS ACROSS 70 MARKETS (investor.pypl.com)
• Press Release: PayPal Launches U.S. Dollar Stablecoin - Aug 7, 2023 (newsroom.paypal-corp.com)

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