Paypal announced a global hackathon for its stablecoin PYUSD, with a total prize pool of 40,000 PYUSD. This was launched after the introduction of Paypal's stablecoin on Solana. The hackathon will take place from August 12th to September 16th, with the aim of promoting innovation and the adoption of PYUSD on Solana.

The Paypal technical team stated, "In May of this year, Paypal announced the launch of PYUSD on Solana, marking a new phase of opportunities and adoption for stablecoin payments." They added, "Today, we are pleased to announce the launch of the first global PYUSD portal hackathon, which is a collaboration between Paypal and Portal, built on Solana."