Zero Hash Adds PYUSD to Stablecoin Offering

Zero Hash, a leading crypto and stablecoin infrastructure provider, announced the integration of PayPal USD (PYUSD) into its platform on March 10. This addition expands the company’s stablecoin offerings, enabling users to access PYUSD on the Ethereum and Solana networks.

PYUSD is a PayPal-issued stablecoin backed 1:1 by the U.S. dollar, minted by Paxos. With this integration, Zero Hash now offers a broader range of stablecoins, including Tether (USDT), USDC, Dai, EURC (Circle’s euro-backed stablecoin), Ripple’s RLUSD, and Paxos’ Pax Dollar.

The platform allows users to access and utilize these stablecoins via Zero Hash’s application programming interface (API) and software development kits (SDKs), ensuring seamless integration for businesses and developers.

Zero Hash powers various use cases, including cross-border payments, remittances, tokenization, and payroll solutions. Its customer base includes major financial and crypto players such as Stripe, Shift4, and Franklin Templeton, as well as partners like Felix, Securitize, and Kalshi.

Edward Woodford, CEO and founder of Zero Hash, emphasized that the platform’s tech stack supports diverse payment rails, further driving adoption of stablecoin solutions across financial products and services.

Zero Hash has established a strong regulatory presence, being registered as a money service business by the Financial Crimes Enforcement Network (FinCEN) and holding a money transmitter license that allows it to operate across 51 jurisdictions in the U.S. The company is also backed by investors like Point72 Ventures, Bain Capital, and Nyca Partners, solidifying its position in the market.

PayPal USD launched in August 2023 and quickly gained traction, with a current market cap of over $720 million, making it the ninth-largest stablecoin by market capitalization. Initially available on Ethereum and Solana, PYUSD has since expanded to the Cardano blockchain via the Wanchain cross-chain bridge.

By adding PayPal USD to its stablecoin offerings, Zero Hash provides clients with a trusted U.S. dollar-pegged stablecoin, benefiting from seamless integration into a variety of financial and blockchain applications. This development highlights the growing trend of traditional financial institutions like PayPal entering the cryptocurrency space, offering more options for users seeking stable digital assets.