Stable, a Bitfinex-backed, institutional-grade blockchain, announced that PayPal Ventures is supporting the integration of the PayPal USD (PYUSD) stablecoin onto its network. The move aims to expand PYUSD’s utility across multiple blockchain ecosystems and facilitate seamless financial transactions.
David Weber, head of the PYUSD ecosystem, said the collaboration reflects PayPal’s commitment to driving adoption and enabling faster, frictionless payments. The announcement follows Stable’s emergence from stealth in July, alongside a $28 million seed round co-led by Bitfinex and Hack VC.
Stable designed for USDT with real-dollar settlement
Stable is a layer-1 blockchain tailored for peer-to-peer payments, remittances, and cross-border transactions. The platform is closely linked to Tether (USDT), the largest stablecoin by market capitalization.
According to Stable’s website, the blockchain is “designed for USDT,” offering real-dollar settlement, sub-second finality, and gas-free peer-to-peer transfers. USDT serves as the native gas token, simplifying transactions and avoiding the volatility of other tokens.
In addition, Stable is connected to USDT0, a cross-chain liquidity stablecoin developed by Everdawn Labs, though it is unclear which serves as the primary gas token on the network.
Unlocking new commerce use cases for PYUSD
The partnership between PayPal Ventures and Stable seeks to enable commerce-focused applications for PYUSD. Launched in August 2023 with Paxos, PYUSD has gained traction in the stablecoin market but still trails behind Tether’s USDT. As of now, PYUSD is the 11th largest stablecoin by market cap, valued at around $1.4 billion.
PayPal Ventures partner Amman Bhasin highlighted that Stable addresses emerging markets where reliable, dollar-based payments can have the greatest impact. The integration will allow PYUSD to reach more users and support new payment scenarios across Stable’s blockchain ecosystem.