After the announcement of PayPal's own cryptocurrency PayPal USD (PYUSD), TRON founder Justin Sun suggested collaborating with PayPal to launch PYUSD on the TRON network. Sun stated that he wanted PayPal to consider TRON to be fast, secure and cost-effective, with a daily transaction volume of 12 billion USD. It was also shared that the Ethereum network has been criticized for its high transaction fees and that PYUSD will be issued by Paxos Trust Company, a regulated trust company. There are also rumors that he was preparing to issue the PYUSD token on the Solana network in collaboration with Ftx earlier, but these works were suspended due to the bankruptcy of Ftx.