PayPal's stablecoin PYUSD has started using LayerZero for transfers between Ethereum and Solana

According to a statement released on Tuesday, PayPal's US dollar stablecoin PYUSD is now using LayerZero to simplify transfers between Ethereum and Solana. The statement said: "This integration eliminates liquidity fragmentation, ensuring fast, secure and cost-effective transactions for users and businesses."

Data shows that in recent months, the market value of PYUSD on Ethereum has been relatively stable at about $350 million. However, the supply of this stablecoin on Solana has plummeted from over $660 million in August to $186 million.