PayPal's Multi-chain Expansion Accelerates: Leading Global Payment Innovation with Polygon Native Issuance

On July 9, 2026, PayPal officially announced the native issuance of its stablecoin, PayPal USD (PYUSD), on the Polygon network. This expansion is integrated with Polygon's 'Open Money Stack,' a strategic move interpreted as PayPal's effort to accelerate the mainstream adoption of stablecoins by leveraging the efficiency of Layer 2.

PayPal's move goes beyond simply increasing the number of supported networks; it is part of a long-term multi-chain strategy to establish stablecoins as a core medium for actual commerce. The choice of Polygon, following Ethereum and Solana, is analyzed as a commitment to improving user experience by securing both high scalability and low transaction costs.

Native issuance on the Polygon network provides a new pathway for companies to manage funds more efficiently by combining existing financial systems with blockchain technology.

Technically, PYUSD is issued as a native asset on the Polygon network, fundamentally blocking security vulnerabilities that bridged assets might have. Furthermore, through close integration with Polygon's 'Open Money Stack,' companies can now seamlessly connect traditional card payments or banking systems with blockchain-based stablecoin payments.

Optimizing Global Commerce and Fiat Accessibility

From a business perspective, the greatest advantage of the Polygon launch is the dramatic simplification of international remittance and payment processes. Companies can receive funds in various payment methods within a single system, instantly convert them to PYUSD to perform cross-border transfers, and seamlessly handle the final process of withdrawing into local fiat currency.

• Support for major Layer 1 networks including Ethereum and Solana
• Expansion to Layer 2 and specialized chains such as Arbitrum One, Flow, and Sei
• Securing connectivity to Aptos, Avalanche, and Tron through the LayerZero omnichain framework
• Expansion of service availability to 70 markets worldwide as of March 2026

In June 2026, adjusted stablecoin transaction volume reached an all-time high of $1.79 trillion, a 63% increase from the previous month. Among these, PYUSD recorded a transaction volume of approximately $2.42 billion, achieving third place in market share following Tether (USDT) and USD Coin (USDC).

The success story on the Solana network serves as a positive precursor to the Polygon expansion. Since July 2025, PYUSD transaction volume on Solana has consistently surpassed that of Ethereum, proving strong growth potential in non-Ethereum ecosystems by attracting approximately $700 million in new Total Value Locked (TVL).

Looking at the competitive landscape, USDC, which supports native issuance on 34 networks as of May 2026, still maintains its dominance. To narrow this gap, PayPal is focusing on strengthening practical commerce utility, leveraging the global market accessibility to 70 countries announced last March.

In terms of security and reliability, PYUSD is issued by Paxos Trust Company and follows strict regulatory compliance standards. These institutional safeguards play a decisive role for institutional investors in adopting stablecoins as a means of payment and settlement in Layer 2 environments like Polygon.

In conclusion, the native issuance on Polygon on July 9, 2026, demonstrates that PayPal's digital asset ecosystem has entered a full-fledged stage of maturity. Combining low costs, high speed, and strong regulatory compliance capabilities, PYUSD is projected to be a key variable that will change the landscape of the global digital payment market in the future.