PayPal has invested in Stable, a layer-1 blockchain platform, to expand the reach of its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD). The investment was made through PayPal Ventures as part of Stable’s $28 million seed funding round, which also drew backing from Bitfinex, Hack VC, and other industry players.
Stable will integrate PYUSD into its network, Stablechain, enabling users to conduct commerce and financial transactions directly with the stablecoin. The partnership leverages PayPal’s growing expertise in digital assets to accelerate adoption while enhancing the utility of stablecoins in global markets.
The integration will also use LayerZero’s interoperability protocol, offering PYUSD users lower fees, near-instant finality, and cross-chain compatibility. Stable said the upgrade will unlock new use cases, including improved on- and off-ramp services for payments and digital commerce.
Stable CTO Sam Kazemian highlighted the alignment between both firms, pointing to the benefits digital assets bring to cross-border transactions. David Weber, head of the PYUSD ecosystem, added that the partnership will create “new commerce-related use cases” and further stablecoin adoption across the financial sector.
The move underscores PayPal’s broader strategy in digital assets, where it has positioned PYUSD as a cornerstone of its crypto ecosystem.
Image Credit: Pixabay
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