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
They are going to fight Tether armed with the Bible
Texas finance professor John Griffin and his colleague Amin Shams published a study claiming that once the price of Bitcoin fell to a certain level, some traders would buy up the sagging asset through the Tether stablecoin, bringing the price back to its previous level.
Tether Reopens Direct Conversion of USDT to Fiat
Tether, the issuer of the USDT stablecoin, recently announced the launch of “an updated platform that allows you to verify new customers and directly purchase Tether with fiat and vice versa.”
