Data: PayPal stablecoin PYUSD market capitalization exceeds 500 million USD

ChainCatcher news, according to The Block, PayPal's stablecoin PYUSD has surpassed a market capitalization of 500 million dollars. In the past month, the supply of PYUSD has increased by 97%, from 270 million on June 26 to the current 533 million. This has placed PayPal among the top ten stablecoin issuers, while Tether USD leads with a supply of over 112 billion.

The surge in PYUSD's growth occurred after its expansion to the Solana network in May, where approximately 134.5 million PYUSD tokens have been issued on Solana.