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    Fireblocks launches $1M grant program to boost PYUSD developer adoption

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    Fireblocks, the digital asset management platform, has unveiled a $1 million grant scheme for firms creating projects with blockchain tech and PayPal’s stablecoin, PYUSD. Successful applicants can win a grant of up to $60,000. Via Fireblocks’ network, developers can offer safe blockchain-based payment services. The firm’s additional security feature, in combination with blockchain’s fixed digital ledger nature, could attract fintech firms focused on security. The integration of PayPal’s PYUSD stablecoin allows developers to merge stablecoin currency payments with Fireblocks’ security to develop blockchain payment apps from beginning to end.

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    Fireblocks, a platform for managing digital assets, recently announced a $1 million grant scheme for organizations developing projects with blockchain technology and PayPal’s stablecoin, PYUSD. Successful applicants could earn a grant of up to $60,000.

    As Ran Goldi, the senior VP of payments and networks at Fireblocks, puts it, “Our pilot has demonstrated the major impact PYUSD can have, and we’re excited to see how businesses can employ stablecoins in real-life scenarios.”

    Fireblocks is a platform that provides a safe space for storing digital assets, ensuring the security of blockchain applications. By owning PYUSD, developers can provide safe blockchain-based payment services through Fireblocks’ network.

    Fireblocks’ additional security feature, the MPC tech, alongside blockchain’s fixed digital ledger nature, could be attractive to fintech businesses with a focus on security.

    The inclusion of PayPal’s PYUSD stablecoin – a variant of cryptocurrency supported by fiat reserve and issued by Paxos – lets developers unite stablecoin currency payments with Fireblocks’ security to make blockchain payment applications from start to finish.

    Jose Fernandez da Ponte, the senior vice president of blockchain, cryptocurrency, and digital currencies at PayPal, describes stablecoins like PYUSD as the “game changer for crypto when it comes to payments.”

    Stablecoins have been growing in popularity, evidenced by Tether’s USDT stablecoin hitting a record high on Oct. 20 with a market capitalization of $120 billion. Meanwhile, PYUSD is the sixth largest stablecoin by market capitalization, valued at $654 million.

    Source: Cointelegraph

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