On May 29, PayPal announced the deployment of its dollar-pegged stablecoin, PYUSD, on Solana, adding “confidential transfers” to enhance transaction privacy for consumers while ensuring regulatory visibility. This feature, similar to Bitcoin’s proposed but unbuilt “confidential transactions,” marks a significant development. Solana’s token programmability and compliance standards, including “transfer hooks,” provide greater control and integration flexibility for PYUSD, now seeing increased circulation and trading volume.
