PayPal’s USD Stablecoin on Solana Exceeds Ethereum Supply!

Author: Nidhi Kolhapur

Nidhi is a certified digital marketing executive and passionate crypto journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

August 13, 2024 17:17

The supply of PayPal PYUSD stablecoin on Solana exceeded the supply on Ethereum. Since its launch in May, the PYUSD stablecoin on Solana has a supply of 377 million, while the Ethereum-based PYUSD has a supply of 356 million. PayPay's US dollar-peg stablecoin launched on Ethereum in August 2023 in partnership with custodian Paxos. Following the announcement, the supply of PYUSD reached 230 million by the end of 2023. Since then, the total supply of Statcoins has tripled to over 733 million. Stable Coin expands to Solana in May 2024.