PayPal’s PYUSD stablecoin is now available on Solana and Ethereum, offering a chain-agnostic experience for its users.

According to an announcement on May 28, PYUSD has been added to the Solana network, allowing users to perform transactions at a lower cost. The move seeks to expand the uses of PYUSD stablecoin as a payment method for small and daily purchases.

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Solana processes up to 65,000 transactions per second at costs as low as $0.0025, significantly outpacing Ethereum’s 15 transactions per second with higher fees, which may vary from $1 to $50 during times of congestion. ​In other words, while a transaction on Ethereum could take a few minutes to process, the same transfer using Solana could be completed in less than a minute.

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“Making PYUSD available on the Solana Blockchain furthers our mission of enabling a digital currency with a stable value designed for commerce and payments,” PayPal’s senior vice president of blockchain, Jose Fernandez da Ponte, said in a statement.

PayPal and Venmo wallet users will have a chain-agnostic experience, meaning PYUSD balances will be unified regardless of the network holding the assets.

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