PayPal to mint PYUSD natively on Polygon

PayPal announced it will mint the PYUSD stablecoin directly on the Polygon network, making the dollar-pegged token available to Polygon users and decentralized applications without requiring cross-chain bridges.

Native issuance means PYUSD will be created and managed on Polygon rather than transferred from an Ethereum-issued supply via bridging. That setup reduces the number of steps for on-chain transfers and smart-contract interactions on Polygon, and can lower transaction costs compared with moving bridged tokens from Ethereum mainnet.

Developers building on Polygon, including decentralized exchanges, payment rails and noncustodial wallets, will be able to integrate the stablecoin directly. Retail users on Polygon should face fewer steps when on-ramping funds and moving PYUSD between applications. Merchants and service providers operating on Polygon can receive a dollar-backed token without relying on cross-chain transfers.

The change requires technical work with Polygon validators and any custodial or trust entity that oversees the reserves backing PYUSD. Native issuance involves establishing minting and redemption processes on Polygon and ensuring that reserve management and audits cover tokens created on the chain. PayPal must provide integration details to exchanges, wallet providers and developers to enable support for Polygon-native PYUSD.

PYUSD is a US dollar-pegged stablecoin introduced by PayPal for payments, settlements and programmable uses in web3. Stablecoins are commonly issued on multiple chains either through native minting or via bridges; native minting gives direct access on a target network while bridges move tokens between chains without separate minting setups.