Zero Hash adds PYUSD to stablecoin offering

Zero Hash, a crypto and stablecoin infrastructure provider, is expanding its solution with the integration of PayPal USD.

The crypto-as-a-service platform announced the integration of PayPal USD ( PYUSD ) on Mar.10, noting that users can now access the stablecoin on the Ethereum ( ETH ) and Solana ( SOL ) networks. 

PYUSD, a PayPal stablecoin issued by Paxos, is the latest product Zero Hash is adding to its suite.

The platform already offers payments and other services integration with top stablecoins Tether ( USDT ) and USDC ( USDC ). Others are Dai, Circle’s euro-backed EURC, Ripple’s RLUSD, and Paxos’ Pax Dollar. 

Users will benefit from the U.S. dollar-pegged stablecoin’s features via Zero Hash’s application programming interface and software development kits.

“Zero Hash offers the tech stack that powers use cases across Stripe’s payout products, on-ramps including Shift4, and tokenization payment rails used by Franklin Templeton,”said Edward Woodford, founder and chief executive officer at Zero Hash.

Beyond cross-border payments and trading, Zero Hash’s customer base spans use cases such as remittances, tokenization, on- and off-ramps, wallet integration, and payrolls. This has led the platform to partner with Felix, Securitize and Kalshi.

Backed by Point72 Ventures, Bain Capital and Nyca Partners, Zero Hash also has an extensive regulatory footprint. It has approval as a money service business by the Financial Crimes Enforcement Network and also holds a money transmitter license that allows it to operate across 51 jurisdictions in the U.S. 

Backed by Point72 Ventures, Bain Capital, and Nyca Partners, Zero Hash also has an extensive regulatory footprint. It is registered as a money service business with the Financial Crimes Enforcement Network and holds a money transmitter license that allows it to operate across 51 jurisdictions in the U.S.

Meanwhile, PayPal USD launched in August 2023 and offers a 1:1 U.S. dollar backed stablecoin.

Currently, PYUSD is the ninth-largest by market cap with over $720 million and is natively available on Ethereum and Solana. The stablecoin also recently expanded to Cardano via the Wanchain cross-chain bridge.