PayPal’s Stablecoin Expands to Solana

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PayPal’s PYUSD stablecoin, recently launched on Solana, introduces a new feature called “confidential transfers” that gives merchants the option to conceal transaction amounts for consumers while still adhering to regulations.

This announcement was made on May 29, with PYUSD previously only being available on Ethereum.

Bitcoin advocate Udi Wertheimer expressed skepticism, noting that this feature has long been discussed by Bitcoin developers but has yet to be implemented.

However, CEO of Helius Labs, Mert Mumtaz, pointed out that the decision to expand to Solana was not just for its speedy transactions, but also for its native ability to offer confidential transfers and token programmability.

This includes the feature of “transfer hooks” which allows for more control over assets by calling specific programs with each token transfer.