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PayPal Launches Stablecoin PYUSD

https://newsroom.paypal-corp.com/2023-08-07-PayPal-Launches-U-S-Dollar-Stablecoin Summary PayPal USD (PYUSD). Fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents. Can be redeemed 1:1 for U.S. dollars. Launched on 07 Aug 2023. Issued by Paxos Trust Company (regulated by the New York State Department of Financial Services). In June 2022, PayPal was issued a BitLicense by NYDFS after previously obtaining a conditional BitLicense. Available for eligible U.S. PayPal customers. Transfer PayPal USD between PayPal and compatible external wallets. Send person-to-person payments using PYUSD. Fund purchases with PayPal USD by selecting it at checkout. Convert any of PayPal's supported cryptocurrencies to and from PayPal USD. ERC-20 token issued on the Ethereum blockchain. Will soon be available on Venmo. PayPal USD can be bought or sold through PayPal at a rate of $1.00 per PayPal USD. Beginning in September 2023, Paxos will publish a public monthly R...

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