PayPal’s PYUSD stablecoin on Solana introduces a confidential transfer feature that allows merchants to conceal transaction amounts to consumers.
One notable extension initialized for PYUSD is “confidential transfers,” which will allow merchants to “provide confidentiality for transaction amounts to their consumers while maintaining visibility for regulatory purposes,”“This sounds a lot like “confidential transactions,” a feature Bitcoin devs have been larping about for almost a decade but never built, and you’re telling me PayPal users will have it first? LOL,” in a post on X on May 29.
Additional programmability includes “transfer hooks” which allow the ability to call specific programs with each token transfer, enabling more control over the asset for wallets.Solana’s token extension standard, which provides compliance frameworks adhering to the SPL token standard, offers several benefits for the PayPal stablecoin, said the firm.
“TEs are an open standard that allows PYUSD to be integrated and used not only in the PayPal ecosystem, but outside of PayPal with any compatible wallet, exchange, or library,” explained the Solana Foundation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PayPal expands PYUSD to Solana, targets payment use casesPayPal’s PYUSD stablecoin is now available on Solana and Ethereum, offering a chain-agnostic experience for its users.
Read more »
PayPal Makes Retail Stablecoin Play with PYUSD on SolanaDanny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Read more »
PayPal’s PYUSD Stablecoin Deploys Solana Because of High Throughput and Low FeesCrypto Blog
Read more »
Ore wins Solana hackathon despite disrupting Solana’s network in AprilThe Solana-native cryptocurrency Ore won a Solana-backed hackathon despite playing a major role in the disruption of the blockchain last month.
Read more »
Solana (SOL) Skyrockets 1,966% in Fund Flows: Is Solana ETF Possibility?Solana (SOL) has surged jaw-dropping 1,966% in fund inflows, sparking discussions about potential for Solana ET
Read more »
Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buyingHis conglomerate Berkshire Hathaway has acquired nearly 26 million shares of Chubb for a stake worth $6.7 billion.
Read more »