cryptonews.net
Initially available on Solana and Ethereum, PYUSD is now also available on Cardano via the Wanchain cross-chain bridge. This strategic expansion provides cryptocurrency users with several new options, bringing more participants into the Cardano ecosystem. The move could also optimize Cardano’s growth in the crypto space by positioning it as a more flexible and secure platform for digital finance.
The integration of PayPal’s PYUSD into Cardano is a big step, especially considering that the stablecoin was initially only available on Ethereum and Solana. Now that it is available on Cardano, cryptocurrency users have several more ways to interact with the stablecoin. This expansion, supported by the Wanchain cross-chain bridge, provides more flexibility for users to manage their assets. According to Wanchain CEO Temujin LOUIE, this bridge adds more options for users and promotes wider adoption of cryptocurrencies.
The Cardano DeFi ecosystem is growing rapidly, with a total value locked at approximately $447 million. With the addition of PYUSD to the ecosystem, Cardano users now have access to a more secure and stable asset. PayPal’s stablecoin is backed by USD deposits, giving users more confidence in using it for decentralized finance (DeFi). The stablecoin’s association with PayPal adds a significant level of trust that is likely to be attractive to both new and existing users.
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