⚪️ PayPal's stablecoin surpasses $500 million market cap following Solana expansion

PayPal’s U.S. dollar-pegged stablecoin, launched in August 2023 through a partnership with custodian firm Paxos — has seen its market supply exceed half a billion tokens. Following its rollout, PYUSD’s supply reached 230 million by the end of 2023. Since then, the total supply of stablecoins has more than doubled, surpassing the 500 million mark (or $500 million) this month, according to DeFiLlama data.