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PayPal launched PYUSD, a stablecoin fully backed by US dollar deposits, US treasuries, and similar cash equivalents.
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NASDAQ: PYPL stock added $1.67 to its trading price on the August 8 trading session, following the launch of PYUSD.
On August 7, 2023, PayPal launched its stablecoin PayPal USD (PYUSD), which will be backed by US dollars, US treasuries, and cash equivalents.
With the launch of its stablecoin, PayPal aims to prove its relevance in the crypto industry. Paxos Trust Co. will issue these stablecoins.
According to PayPal, the recently launched stablecoin will be backed by “secure & highly liquid assets.” “ PYUSD can be used for buying, selling, holding, and transferring on the PayPal application and website,” the company added.
PayPal was established in 1998 in Palo Alto, California. eBay acquired PayPal for a sum of $1.5 Billion, and after investing $175.8 Million in PayPal, Elon Musk purchased 11.27% of the payment solutio
We współpracy z: https://www.thecoinrepublic.com/2023/08/08/paypal-aims-to-revolutionize-crypto-industry-with-pyusd/
