Solana
PayPal’s PYUSD Stablecoin on Solana will offer confidential transfers
PayPal has deployed its stablecoin PYUSD on Solana, which was previously only available on Ethereum. The new feature, “confidential transfers,” was announced on May 29, with the aim of allowing merchants to keep their transaction amounts confidential to consumers while remaining visible for regulatory purposes. This feature enhances Solana’s existing capabilities by improving the speed and programmability of tokens. Bitcoiner Udi Wertheimer commented on the novelty of this feature, noting that Bitcoin developers have been discussing it for years, but it has not been implemented. PYUSD has seen a 50% increase in circulating supply this year, with $18 million in trading volume over the past 24 hours.