PayPal’s PYUSD Stablecoin On Solana Exceeds Its Supply On Ethereum!

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

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.

Aug 13, 2024 17:17

The supply of PayPal’s PYUSD stablecoin on Solana surpassed its supply on Ethereum. Since the launch in May, the PYUSD stablecoin on Solana has a supply of 377 million, while Ethereum-based PYUSD stands at 356 million. PayPal’s U.S. dollar-pegged stablecoin launched on Ethereum in August 2023 through a partnership with custodian firm Paxos. Following its rollout, PYUSD’s supply reached 230 million by the end of 2023. Since then, the total supply of stablecoins has more than tripled, surpassing 733 million. The stablecoin expanded to Solana in May 2024.