PayPal invests in the L1 blockchain project Stable to expand the distribution and application of PYUSD

ChainCatcher news, according to PR Newswire, the layer one blockchain network focused on stablecoins, Stable, announced that PayPal Ventures has made a strategic investment in its latest funding round, allowing users to conduct commercial and financial transactions using PayPal USD (PYUSD) on Stablechain.

Stable will bridge PYUSD to its blockchain network through LayerZero integration, leveraging Stable's ultra-fast network processing speed and reduced fee structure to provide near-instant finality and an economically favorable model for commercial transactions. Both parties will also explore providing cross-chain compatibility and deposit/withdrawal functionalities for PYUSD, unlocking new use cases for stablecoins across different blockchain ecosystems.