PayPal Officially Launches U.S. Dollar Stablecoin for Web3 Ecosystem

News | Aug 8, 2023 PayPal has officially launched its U.S. Dollar Stablecoin, named PayPal USD (PYUSD). This digital currency is fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other similar cash equivalents. Users can redeem the stablecoin on a 1:1 ratio for U.S. dollars. The primary purpose of PayPal USD is to

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