
PayPal Holdings Inc.’s introduction of the United States dollar-pegged stablecoin PYUSD into the cryptocurrency market has garnered significant attention, particularly due to its rapid supply growth on the Solana blockchain compared to Ethereum. As the fourth-largest centralized stablecoin issuer following Tether (USDT), Circle (USDC), and First Digital (FUSD), PYUSD exemplifies the complexities and opportunities inherent in the evolving blockchain ecosystems.