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PYUSD - PayPal USD StableCoin


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PayPal launches first dollar-backed stable coin from a major U.S. financial institution.

PayPal on Monday launched a U.S. dollar-backed stablecoin to help facilitate payments as its latest addition to its suite of crypto services. It’s the first such move from a major U.S. financial institution.

The new asset, called PayPal USD (PYUSD), was designed to address the “emerging potential” to “transform payments in web3 and digitally native environments.” Its launch comes as market participants await a vote in Congress on a key stablecoin bill, which has just advanced to the House with three other crypto bills for the first time.

Source: https://www.cnbc.com/2023/08/07/paypal-launches-first-dollar-backed-stablecoin-from-a-major-us-financial-institution.html

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