PayPal has launched its USD stablecoin, PYUSD, on the Solana blockchain. This move aims to enhance retail adoption by leveraging Solana's high transaction speeds and low costs. The stablecoin, issued by Paxos, will serve over 30 million merchants, enabling swift and secure transactions. This expansion follows the initial launch of PYUSD on Ethereum in August 2023. The integration allows users to access PYUSD through PayPal, Venmo, Crypto.com, and Phantom, with zero transaction fees on Phantom. The $2.6 trillion payments market is expected to heat up as PayPal seeks to boost its profits through this crypto stablecoin. PYUSD currently has a nearly $400M market cap, and more than 420 million PayPal accounts can now use Solana's network.