Fireblocks has introduced a $1 million grant program aimed at encouraging developers to create blockchain projects utilizing PayPal's PYUSD stablecoin. Developers can apply for grants of up to $60,000 for qualifying projects. The program, which builds on a successful beta phase with KoraPay and Bridge, aims to showcase the potential real-world applications of PYUSD. The program hopes to foster stablecoin adoption by allowing developers to integrate blockchain-based payment services through Fireblocks' secure multiparty computation (MPC) technology. Overall, the initiative is seen as a step toward enhancing the use of stablecoins, which are backed by fiat reserves, in secure financial applications, in line with recent comments from PayPal’s senior vice president about stablecoins being essential for crypto payments.

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