On May 29, PayPal announced the deployment of its dollar-pegged stablecoin, PYUSD, on Solana, adding “confidential transfers” to enhance transaction privacy for consumers while ensuring regulatory visibility. This feature, similar to Bitcoin’s proposed but unbuilt “confidential transactions,” marks a significant development. Solana’s token programmability and compliance standards, including “transfer hooks,” provide greater control and integration flexibility for PYUSD, now seeing increased circulation and trading volume.
PayPal’s new stablecoin on Solana will offer ‘confidential transfers’
by Crypto Oasis | May 30, 2024 | Industrial | 0 comments