Chaos Labs, a 2021 startup located in New York, provides a range of on-chain risk management solutions for decentralized finance (DeFi).

In just two months since its introduction, the startup's Edge decentralized oracle technology has raised $30 billion and gained traction on exchanges including Jupiter, the leading Solana perpetuals exchange.

PayPal claims that its on-chain investment in PYUSD is consistent with its continuous dedication to the blockchain ecosystem, having introduced the PYUSD stablecoin on Solana last year.

PayPal Ventures is investing a further $55 million in Chaos, increasing its stake in the business.

"Our continued investment in Chaos Labs reflects our belief in their vision to create a safer crypto ecosystem and move more financial services on chain," says PayPal Ventures partner Amman Bhasin.

Additionally, PayPal has already invested almost $5 million using PYUSD in Mesh, an integrated finance firm for cryptocurrency payments.