Coinspeaker
PayPal’s PYUSD Stablecoin Now Available to Venmo Users
In the latest development, financial payments giant PayPal announced that its PYUSD stablecoin will be now available to users on Venmo. In its blog post on Wednesday, September 20, PayPal said that its USD-pegged stablecoin is available to Venmo users and will be “rolling out in the coming weeks”.
Individuals with compatible external wallets, as well as merchants who embrace PYUSD for payments, will be able to receive transfers from Venmo users.
The payments giant said:
“PYUSD is already present in native crypto experiences, and continues to be made more broadly available as the ecosystem grows. In the few weeks since its launch in the open market, PYUSD is already present on select exchanges including Crypto.com, Bitstamp, Coinbase, and Kraken.”
The news comes approximately six weeks following PayPal’s announcement of the stablecoin’s launch, issued by Paxos Trust. The PYUSD is backed by US dollar dep
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