# Solana Summer

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-05-31

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PayPal's stablecoin is now live on Solana, promising users faster and cheaper transactions. This move follows its initial launch on Ethereum nearly a year ago.

Now, on the Solana blockchain, users can utilize PayPal USD for cross-border transactions, like remittances, and various other transactions. Jose Fernandez da Ponte, Senior VP of Blockchain at PayPal, highlighted the importance of this step, emphasizing the stability and utility of PYUSD for commerce and payments.

This partnership underscores PayPal's growing involvement in the crypto space, with recent approvals for cryptocurrency custodianship. And PayPal isn't alone in embracing Solana; Visa also announced plans to settle USDC on the blockchain last fall.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/solana-summer)*