PayPal invests in Stable layer 1 blockchain

Editorial

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PayPal’s investment comes as part of Stable’s $28 million seed funding round, which saw participation from Bitfinex and Hack VC.

In addition to the investment – the size of which was not disclosed – Stable users will be able to use PayPal’s PYUSD stablecoin for commerce and financial transactions on the Stablechain.

“This work with Stable reflects our commitment to expanding PYUSD’s utility across multiple blockchain ecosystems and driving adoption. Stable’s focus on fast, seamless financial transactions using stablecoins removes traditional friction points for users,” says David Weber, head, PYUSD ecosystem, PayPal.

Already available on Ethereum and Solana, PYSUD will come to Stellar pending regulatory approval by the New York State Department of Financial Services, PayPal said in June.