PayPal has joined Visa and Western Union in evaluating Solana’s blockchain to underpin a stablecoin-based payment rail. The initiative aims to leverage Solana’s high throughput and low fees to streamline cross-border remittances and compete with traditional wire and remittance services.

Consensus estimates point to a decline in PayPal’s first-quarter earnings as transaction volume growth slows and merchant services revenue underperforms. Analysts cite absence of new product catalysts and increased competition in digital payments as headwinds to an earnings beat.