PayPal's Stablecoin Spans Chains, Redefining Global Payments

PayPal has expanded its native stablecoin, PYUSD0, to the Sei and TRON blockchains, leveraging cross-chain interoperability technology from LayerZero. This move is part of PayPal's broader strategy to enhance the utility of its stablecoin, enabling it to function across multiple blockchain ecosystems. The expansion is facilitated by LayerZero's Omnichain Fungible Token (OFT) standard and Stargate's Hydra model, which allows for seamless asset distribution across different blockchains without requiring user intervention. PYUSD0 is now fully fungible and interoperable with existing PayPal USD tokens, ensuring users can transact on either blockchain with the same value and trust.

The integration with the Sei network marks another milestone for PYUSD0, with the Sei Development Foundation highlighting its role as a preferred settlement layer for global financial transactions. Sei, known for its sub-second finality, low transaction fees, and institutional-grade throughput, is expected to enhance the performance and scalability of PYUSD0. Jack Lipstone, the Business Development Director at the Sei Development Foundation, noted that this expansion follows record stablecoin adoption on the Sei network and positions the platform as a leading chain for stablecoin operations.

The PYUSD0 stablecoin has seen significant growth since its launch, with a market capitalization reaching $1.3 billion as of September 2025. This makes it one of the more widely adopted stablecoins among corporate users, according to a recent survey by EY-Parthennon, where 36% of respondents indicated usage of PYUSD0. While still trailing behind market leaders such as Tether and Circle, the stablecoin's rapid adoption underscores its growing role in digital commerce and decentralized finance (DeFi) ecosystems.

The integration with TRON, a blockchain known for its large user base and high transaction volumes, further expands PYUSD0’s reach. TRON currently hosts over 332 million user accounts, with daily transaction volumes averaging around 9 million and over $28 billion in total value locked (TVL) across the ecosystem. Justin Sun, founder of TRON, emphasized that this collaboration reflects the platform’s commitment to supporting assets that enhance trust, efficiency, and broader access in the digital economy.

LayerZero’s role in enabling these integrations has been pivotal. The company’s acquisition of Stargate has allowed for a more streamlined approach to cross-chain asset distribution, with the Hydra model now directly extending PYUSD0 to multiple blockchains. Bryan Pellegrino, CEO of LayerZero Labs, highlighted that such developments are indicative of the emergence of a global financial market that operates across borders and around the clock. The collaboration between PayPal, LayerZero, and platforms like Sei and TRON represents a convergence of traditional payment systems and on-chain financial infrastructure, aiming to create a more inclusive and efficient global financial ecosystem.

Analysts have noted that this expansion aligns with broader trends in the cryptocurrency sector, where major financial players are increasingly looking to bring real-world assets onchain. Institutions such as BlackRock, Franklin Templeton, and JPMorgan have also been exploring the potential of onchain finance, indicating a shift toward hybrid financial systems that combine the speed and transparency of blockchain with the reliability of established financial networks. For users, this means greater access to stable, high-speed transactions across multiple platforms, potentially reducing friction and costs in global commerce.