Odaily Planet Daily News: Layer1 Plume, which is targeting RWAfi, announced that it will soon launch PayFi Vault on its product Nest, supported by PayPal USD (PYUSD). This move aims to introduce payment finance to the blockchain, which can help global trade, inventory management and commercial payments.
PayFi Vault is based on PYUSD, a stablecoin fully backed by US dollar deposits, US Treasuries and cash equivalents, which can enable yield growth for traditional non-yielding stablecoins and support instant settlement, borderless financing and stablecoin-denominated loans.
Teddy Pornprinya, co-founder of Plume, said: "RWA-backed stablecoins have gone beyond a simple medium of exchange. They are becoming a key short-term financing solution. The launch of PayFi Vault on Nest has unlocked the potential of on-chain payment financing, bringing faster settlement, lower costs and wider financial inclusion."