Stable, a Bitfinex-backed blockchain designed for institutional-grade stablecoin payments, is integrating PayPal’s USD stablecoin (PYUSD) as part of a broader push to expand digital dollar adoption across global markets.

On Monday, Stable announced that PayPal Ventures has made a strategic investment in the project, paving the way for PYUSD to be supported natively on Stablechain. The move underscores PayPal’s commitment to scaling the utility of PYUSD across multiple blockchain ecosystems while also providing Stable with added legitimacy in its mission to power seamless financial transactions.

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“This collaboration reflects our commitment to expanding PYUSD’s utility across multiple blockchain ecosystems and driving adoption,” said David Weber, head of the PYUSD ecosystem at PayPal, highlighting the alignment with Stable’s focus on fast, efficient settlement.

The development comes just two months after Stable exited stealth mode in late July, unveiling a $28 million seed round co-led by Bitfinex and Hack VC.

A Blockchain “Designed for USDT”

Stable is a layer-1 blockchain purpose-built for real-dollar settlement, targeting everyday use cases such as peer-to-peer payments, international remittances, and cross-border commerce.

The project has close ties to Tether’s USDT — the world’s largest stablecoin — and markets itself as being “designed for USDT.” Its infrastructure supports sub-second finality, gas-free peer transfers, and uses USDT as its native gas token to avoid the volatility of traditional crypto tokens.

Stable FAQ. Source: Stable

Additionally, Stable has integrated USDT0, a cross-chain liquidity stablecoin developed by Everdawn Labs, broadening its role in facilitating multi-chain stablecoin activity. However, questions remain over whether USDT or USDT0 will ultimately serve as Stable’s default gas token.

Unlocking New Use Cases for PYUSD

For PayPal, the partnership with Stable signals a push into emerging markets where stablecoin adoption could accelerate access to reliable, dollar-based payments.

“Stable is tackling the real frontier for stablecoins: emerging markets where reliable, dollar-based payments can have the greatest impact,” said PayPal Ventures partner Amman Bhasin. “We’re excited to support their mission.”

PYUSD, launched in August 2023 through a partnership with Paxos, has grown steadily, though it remains a fraction of Tether’s dominance. At present, PYUSD ranks as the 11th largest stablecoin, with a market capitalization of around $1.4 billion, compared to USDT’s $172 billion, according to CoinGecko.

Source: Stable

Stable’s integration could help unlock new commerce-focused use cases for PYUSD, from merchant payments to DeFi integrations.