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Aptos Labs has confirmed that Aptos has officially become the Move-based launch partner for PYUSD0, a cross-chain permissionless version of PayPal’s dollar-pegged PYUSD stablecoin.
The alliance leverages Stargate and LayerZero to bridge PYUSD0 into Apto’s innovative blockchain to support PYUSD usage in day-to-day payments.
The X post highlighted:
Aptos is the Move-chain launch partners for PayPal’s PYUSD0. PYUSD reliability meets Aptos ultra-low-cost, high-speed rails for real-world payments – at scale.
.@Aptos is the Move-chain Launch Partner for @PayPal‘s PYUSD0 PYUSD reliability meets Aptos ultra low-cost, high-speed rails for real-world payments—at scale. Aptos $70B monthly stables volume is just the start. PYUSD0 via @LayerZero_Core & @StargateFinance unlocks what’s next.
The collaboration has gained attention as it blends two key forces.
Firstly, there’s Aptos’ infrastructure, designed for affordability, scalability, and speed.
Secondly, PayPal boasts international credibility as a reliable payment company.
The alliance could spark a shift in how individuals move money online amid increasing attention in instant, borderless payment options.
Understanding PYUSD0 and PYUSD
PayPal launched the US dollar-pegged PYUSD stablecoin in 2023.
Meanwhile, PYUSD0 is a visionary version of PYUSD designed to move seamlessly across different networks.
PYUSD0 aims to make PayPal’s stablecoin interoperable, allowing individuals to send PYUSD across different chains, starting with Tron, and today’s expansion to Aptos.
Notably, PYUSD0 leverages LayerZero’s OTF (Omnichain Fungible Token) standard.
It is a suitable option for people looking to hold PayPal’s official stablecoin (PYUSD) on any platform.
LayerZero and Stargate’s roles
LayerZero, which supports secure, seamless communication between blockchains, is crucial in PayPal and Aptos’ deal.
Through its recently acquired Stargate bridge, LayerZero will support frictionless PYUSD0 transfers between Tron, Ethereum, Aptos, and possibly more chains in the future.
That could be a game-changer for developers on Aptos.
They can integrate PYUSD0 into payment apps, DeFi protocols, wallets, and gaming ecosystems.
Besides near-instant transactions, users will enjoy heightened flexibility as they can use PYUSD stablecoin whenever they want, regardless of the chain holding it.
Fueling crypto adoption
These developments are crucial as crypto becomes mainstream.
PayPal contributes regulatory credibility and brand recognition, whereas Aptos ensures inexpensive and faster transfers.
Successful Aptos integration could expand PYUSD0’s utility beyond cryptocurrency trading into global remittances, P2P transfers, and online shopping.
Notably, the Aptos integration comes less than a day after PayPal announced its collaboration with Google.
Commenting on the deal, PayPal CEO and President Alex Chriss said:
Together with Google, we are leading the way for digital commerce, ensuring greater opportunities for merchants and users worldwide.
We are bringing PayPal’s products and services to billions of Google users and redefining what’s possible at a global scale.
APT price outlook
Aptos’ native token traded in the green amidst the collaboration news.
APT has gained more than 7% on its daily chart to $2.73.
Chart by CoinmarketcapThe soaring trading volumes indicate renewed interest in the altcoin.
Institutional appetite, thriving RWA sector positions APT for impressive recoveries in the coming times.
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