Cryptocurrency exchange Kraken announced that it has launched support for deposits and withdrawals of the PayPal USD (PYUSD) stablecoin on the Stellar network via its platform. PYUSD is a digital dollar-pegged stablecoin issued by Paxos Trust Company. Stellar is an open-source blockchain designed specifically for payments, with transaction settlement times of approximately five seconds and low network fees, making it well-suited for large-scale stablecoin circulation. PYUSD on Stellar is issued natively by Paxos, rather than via a cross-chain bridge.