PayPal backs Stable to expand PYUSD

PayPal Ventures has invested in Stable, a new layer 1 blockchain network designed for stablecoin-based payments, while also enabling permissionless use of PayPal USD (PYUSD) on the platform.

The announcement is part of PayPal’s ongoing effort to extend PYUSD’s reach across multiple ecosystems. Issued by Paxos Trust Company and pegged 1:1 to the U.S. dollar, PYUSD can now be used for commerce and peer-to-peer payments directly on the Stablechain.

Stable said the integration will leverage LayerZero technology for cross-chain interoperability, making PYUSD accessible across different networks. The firm also plans to develop onramps and offramps for the stablecoin, with a focus on emerging markets where dollar-backed transactions are in high demand.

Sam Kazemian, Stable’s recently appointed CTO, described the collaboration as a step toward reducing friction in global payments. “Our teams are aligned on the clear benefits that digital asset implementation can bring for consumers, making them a perfect fit to help us bring about the next true advancement in cross-border transactions,” said Kazemian.

PayPal framed the move as part of a strategy to build practical stablecoin use cases, noting that Stable’s fee structure and settlement speed make it suited for commerce. Amman Bhasin, partner at PayPal Ventures, suggested the investment reflects a focus on real-world adoption in underserved regions. Stable recently closed a $28 million seed round with participation from Bitfinex and Hack VC and outlined a 2025 development roadmap.

This is a developing story.

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This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.

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