Paypal Launches PYUSD Stablecoin

PayPal Launches U.S. Dollar Stablecoin

PayPal has introduced a new stablecoin named PayPal USD (PYUSD), backed by US dollar deposits, cash equivalents, and US treasuries, enhancing its payment services.

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What is a Stablecoin?

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Paxos Trust Co will issue the stablecoin to PayPal customers in the US, allowing 1:1 redemption for US dollars, ensuring a seamless financial experience.

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Eligible U.S. PayPal customers who purchase PayPal USD will be able to:

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Some More...

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PYUSD, an ERC-20 token on Ethereum, will be accessible to external developers, wallets, web3 apps, and exchanges. It will also enhance PayPal's ecosystem experiences.

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In the last year, PayPal shares have dropped by 33%, ranking as the sixth-lowest performer on the Nasdaq 100 Index due to the decline in online payments after the pandemic peak.

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