What you need to know:

  • 30M U.S. business accounts can now buy, sell, hold, and transfer crypto

  • Supported are Bitcoin, Ethereum, and PayPal's own PYUSD stablecoin

  • External wallet transfers are now possible, expanding utility beyond PayPal's ecosystem

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The most interesting thing?

PYUSD is now available on the Solana blockchain.

Essentially, PayPal has created a stablecoin (PYUSD) that integrates across its ecosystem, including Venmo.

This enables, for example:

You can swap your SOL for PYUSD in the Phantom app, and send it to your Venmo account on the Solana network, and then sell it for USD 1:1.