Confidential translations and advanced programmability options
PayPal launched its stablecoin PYUSD on the Solana blockchain, adding a feature called “private transfers.” This innovation allows merchants to keep transaction amounts confidential while meeting regulatory transparency requirements. Previously only available on Ethereum, PYUSD benefits from Solana's speed and built-in confidential transfer capabilities, according to Helius Labs CEO Mert Mumtaz. The stablecoin also uses the Solana token extension standard to improve programmability, providing features such as “transmission interceptors” and compliance mechanisms. Since its launch in August 2023, the circulating supply of PYUSD has grown significantly, with current daily trading volumes reaching $18 million.
According to cointelegraph.com
You May Also Like
Swiss stablecoins approved in the Middle East
Swiss cryptocurrency company X8 AG has received an Islamic company certificate for its stablecoins, confirming compliance with Sharia law, and is planning to operate in the Middle East.
USDT lost its peg to the US dollar
Against the backdrop of Bitcoin falling to $25,000, the price of the stablecoin USDT tested the level of $0.94.
