Data: PayPal USD's total market value has exceeded 1 billion USD

ChainCatcher news, according to a post by Bing Ventures, CoinMarketCap data shows that the total market capitalization of PayPal's stablecoin PayPal USD, which is pegged to the US dollar, has exceeded 1 billion USD.

Since the beginning of the third quarter, the monthly supply of PayPal USD has been growing rapidly. Its market capitalization has more than doubled from about 423 million USD at the end of June. This growth is partly attributed to its expansion to the Solana network in May. Since then, its issuance on Solana has quickly surpassed that on Ethereum.