PayPal USD (PYUSD) stablecoin is designed to maintain a $1 value
Today, PayPal launched PayPal USD (PYUSD), a U.S. dollar-denominated stablecoin. As web3 gains momentum, PayPal’s newest offering aims to capitalize on the advantages stablecoins present in digital transactions.
PayPal USD is pegged 1:1 with the U.S. dollar, and its underlying assets include U.S. dollar deposits, short-term U.S Treasuries, and equivalent cash reserves. Issued by Paxos Trust Company, PayPal USD aims to provide the stability needed in the fast-evolving digital currency space.