Paypal Ventures has invested in stable to bring PayPal USD In Stablechain, aimed at extending its distribution and making global payments faster and cheaper, according to a blog article on Monday.
The stable blockchain, designed for stablecoin transactions with a finality below a second and low costs, is designed to solve the infrastructure problems that have slowed down the adoption, said the company.
The size of the investment has not been disclosed.
Stablecoins are cryptocurrencies whose value is linked to another asset, such as US dollar or gold. They play a major role in the markets of cryptocurrencies, providing, among other things, payment infrastructure, and are also used to transfer money internationally.
Tether’s USDT is the largest stable in the world, followed by the circle (CRCL) USDC.
The two companies have declared that this decision would unlock new cases of use of trade, in particular on emerging markets where dollar payments have the greatest impact.
With Pyusd live on Stablechain, the partnership marks a step towards taking stablescoins beyond crypto-native use and in daily payments and financial products, said stable.
Find out more: The Battle of Stablecoin in the United States could be a zero-sum game: JPMorgan
