ByBybit to Integrate PYUSD on Solana, Offering Opportunities for Retail and Institutional Investors
The post ByBybit to Integrate PYUSD on Solana, Offering Opportunities for Retail and Institutional Investors appeared on BitcoinEthereumNews.com.
Dubai, United Arab Eimirates, August 15th, 2024, Chainwire Bybit, the world’s second-largest crypto exchange by trading volume, proudly announces that all Bybit users can now deposit and withdraw PayPal USD (PYUSD) on the Solana blockchain. The first top-three exchange to offer this feature, Bybit users can now synergise their crypto investments with the power of global payments on Solana. PYUSD and Solana – A Look at PYUSD On-Chain Performance and Issuance Data Since its debut, PYUSD has performed well on Solana. The stablecoin has processed over 500,000 transactions, demonstrating its growing adoption across various financial applications. Its robust performance has established PYUSD as a critical player in the stablecoin market, now ranked 6th in market capitalization. According to DefiLlama, PYUSD has experienced the highest month-on-month growth among the top 10 stablecoins.PYUSD has risen to the 6th-largest stablecoin in market capitalization, seeing the highest month-on-month positive growth among the top 10 stablecoins. (Source: DefiLlama https://defillama.com/stablecoins) “PYUSD’s performance on Solana has demonstrated the market’s demand for a regulated, secure stablecoin that can keep pace with the rapid developments in decentralized finance,” said Emily Bao, head of Web3 and SBU at Bybit. “As a market leader, we are committed to gaining the best partnerships across Web3, institutional finance, and payment providers globally to help our users be part of the future of finance.” Lily Liu, president of the Solana Foundation, added, “PYUSD coming to Solana is a significant milestone for the ecosystem. In addition to showcasing that Solana’s performance can support a global payments network, PYUSD on Solana makes use of token extensions, which adds native Web3 capabilities that enhance payments functionality. These capabilities support Paypal’s primacy in payments into the Web3 world, creating a unique asset for Paypal’s users, Solana’s users, and Bybit’s users alike.” Bybit Launches PYUSD Campaigns with DIfferent Yield…
Filed under: News - @ August 15, 2024 12:22 pm