Paypal launched its own stablecoin – PYUSD, backed by the US dollar, treasury bills, and […]
Paypal launched its own stablecoin – PYUSD, backed by the US dollar, treasury bills, and cash equivalents
PayPal, an online payments giant, announced its step into the digital currency market with its own stablecoin – PayPal USD [PYUSD]. The coin will be pegged against the dollar and backed by dollar deposits, short-term US treasuries, and cash equivalents. Notably, the stablecoin will be issued by Paxos Trust Company, the same company that issued Binance stablecoin [BUSD].
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