PayPal stablecoin seeks deployment on Aave

Since launching in August, PayPal’s PYUSD stablecoin has struggled to gain a foothold in the top-heavy stablecoin sector. In a bid to boost PYUSD’s liquidity, the token’s issuer is beginning to venture into decentralized finance.  

The lending protocol Aave is conducting a community temperature check on potential PYUSD onboarding into Aave’s Ethereum pool. The initial vote ends Jan. 11th and follows a PYUSD activation on the automated market maker Curve in late December. 

The stablecoin’s August debut came with much fanfare, as the online payments giant became the first major financial institution to offer the price-pegged crypto instrument. Stablecoins grease the wheels of…

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