PayPal USD (PYUSD) is now live on the Solana blockchain, allowing Solana users to facilitate cross-border transactions, including remittances, according to a statement from PayPal.

Initially launched on Ethereum last August, PYUSD's expansion to Solana aims to enhance its utility for commerce and payments.

“Making PYUSD available on the Solana blockchain furthers our goal of enabling a digital currency with a stable value designed for commerce and payments,” stated Jose Fernandez da Ponte, Senior Vice President of the Blockchain, Cryptocurrency, and Digital Currency Group at PayPal.

This move is part of PayPal’s broader push into the cryptocurrency space. Recently, PayPal Digital secured approval for a limited-purpose trust charter, allowing it to operate as a cryptocurrency custodian and stablecoin issuer.

PayPal follows Visa, which announced its plans to launch USDC settlement on the Solana blockchain last fall. This indicates a growing trend of major payment companies leveraging Solana for blockchain-based transactions.

Solana’s New $MOTHER Of Adoption👱🏻‍♀️

Australian rapper Iggy Azalea has become embroiled in a meme coin controversy following accusations against Sahil Arora, who was previously involved in Caitlyn Jenner’s and rapper Rich the Kid’s meme coin launches.

Arora proposed collaborating with Azalea for a meme coin on Solana’s launchpad, pump.fun. In his Telegram group, he encouraged members to send Solana (SOL) for a presale of the token IGGY, raising over $380,000. Investors claimed they did not receive their tokens, and IGGY’s value plummeted from a $3 million market cap to $39,000.

In response, Azalea launched her own meme coin, Mother Iggy (MOTHER), and distanced herself from Arora, urging followers not to trust false claims. MOTHER had a stronger debut, reaching an $18.2 million market cap before dropping to $9.2 million. Azalea committed to burning her own cryptocurrency whenever a celebrity coin is identified as a scam, aiming to build trust in the crypto community.

Despite her efforts, blockchain data provider Bubblemaps revealed significant insider trading in MOTHER, with insiders buying 20% of the supply and dumping tokens worth $2 million. Arora admitted to orchestrating the situation and accused Rich the Kid of exploiting him for publicity.

Pudgy Penguins Mobile Game Countdown: 2025🐧

Pudgy Penguins, the popular penguin-themed NFT and toy collection, is expanding into the virtual realm with a new mobile-based video game set to debut in 2025.

Mythical Marketplace is developing the game and will be built on the Mythos Chain, a Polkadot-based network hosting the Web3 game NFL Rivals.

John Linden, CEO of Mythical Games, highlighted the mainstream success of Pudgy Penguins, noting their retail partnerships with Walmart and Target and their growing social media presence. “Building this with Mythical Games on the Mythical Platform and Mythos Chain, already used by millions of consumers, is going to be a major driver to push web3 with mainstream consumers further,” Linden said.

In the upcoming months, holders of Pudgy Penguins NFTs will gain access to exclusive mobile game content, including sneak peeks of gameplay footage. These NFT holders will also be able to influence various aspects of the game’s development.

This mobile app development follows the desktop-based Pudgy Worlds game launch earlier this year and the rollout of Pudgy Penguins' plushies and other collectibles in approximately 2,000 Walmart stores.

Babylon Receives Paradigm $70m Seal Of Approval🟧

Babylon, a Bitcoin staking protocol, has raised $70 million in a funding round led by venture firm Paradigm.

Other participants included Bullish Capital, Polychain Capital, Hashkey Capital, Mantle, Galaxy, Hack VC, ViaBTC Capital, Amber, and HTX Ventures.

Babylon focuses on infrastructure that enables proof-of-stake (PoS) systems to obtain staking capital from Bitcoin. The platform utilizes a modular design and slashing functionality to integrate Bitcoin as a staking and restaking asset for various systems like blockchains, Layer 2s, DA layers, and oracles. "This funding will accelerate our mission to make Bitcoin the security backbone of PoS systems," said Babylon co-founder David Tse.

Previously, Babylon received an undisclosed investment from Binance Labs on February 28, coinciding with the launch of its public testnet. Polychain Capital and Hack VC also co-led an $18 million Series A funding round in December 2023.

Polychain Capital, which participated again in the latest round, sees significant potential in Babylon's approach. "Polychain is excited to double down our investment in Babylon," said Luke Pearson, General Partner at Polychain Capital. He emphasized the firm's support for Babylon's vision of enhancing decentralized security through Bitcoin's trustless design.

Babylon aims to extend Bitcoin's utility beyond traditional roles, enhancing the security of the blockchain ecosystem. As of May 30, Bitcoin was valued at $68,610, a 1.3% increase in the past 24 hours.

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