- LayerZero and PayPal bring stablecoin PYUSD to nine new blockchains.
- PayPal will use LayerZero’s Omnichain Fungible Token (OFT) standard to expand PYUSD to Aptos, Tron and other networks.
- Bulls could target $3.20 next before an extended rally brings $7.14 into play.
PayPal is teaming up with LayerZero to expand its stablecoin PayPal USD (PYUSD) to an additional nine new networks, with this coming amid slight gains for LayerZero’s token ZRO.
As LayerZero helps PayPal enhance the interoperability and accessibility of PYUSD through Stargate Hydra and the permissionless token, PYUSD0, what does this mean for ZRO?
LayerZero and PayPal partner to expand PYUSD to 9 new chains
LayerZero, a leading interoperability protocol, has partnered with PayPal to expand the reach of PYUSD across multiple blockchain networks.
According to LayerZero’s blog post, this collaboration leverages LayerZero’s infrastructure to support real-world payments by combining it with PYUSD’s liquidity.
The stablecoin initially launched on Ethereum and later expanded to Solana and Arbitrum.
However, this expansion means it’s now available on nine more blockchain networks, including Tron, Avalanche, Aptos, Ink, Sei, and Stable.
This expansion is facilitated through Stargate Hydra, a bridging platform that utilises LayerZero’s Omnichain Fungible Token (OFT) standard, ensuring a permissionless and compliant token deployment from the outset.
PayPal is making the expansion through PYUSD0.
ZRO price outlook amid notable LayerZero integrations
The integration of LayerZero’s technology with major players like PayPal could help spark further interest in ZRO.
Already, recent developments, including the launch of Stargate Fast Swaps, have highlighted LayerZero’s ambition to dominate the cross-chain swap market.
The Fast Swaps feature, which offers sub-second quotes, guaranteed pricing, and single-second execution, is built in partnership with Aori and powered by LayerZero’s messaging capabilities.
LayerZero’s revenue generated from Fast Swaps will be channelled into ZRO buybacks, potentially impacting the token’s market dynamics.
As LayerZero continues to integrate with high-profile projects, the ZRO token’s value may benefit from increased utility and demand.
The token rose to nearly $2.10 following the news of PayPal USD integration, and although bulls have failed to hold onto the gains, the price remains nicely poised for an uptick.
Bulls could target $3.20 next before an extended rally brings $7.14 into play.
On the other hand, key levels to watch may include the March 2025 lows of $1.50.
Source: https://coinjournal.net/news/zro-price-outlook-as-paypal-expands-pyusd-to-more-chains-via-layerzero/
