New stablecoin is on the way ๐ถโ๐ซ๏ธ
๐จ **JUST IN: PayPalโs $PYUSD Stablecoin Now Available on Solana and Ethereum!** ๐จ
PayPal has made a significant move in the digital currency space by launching its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), on both the Solana and Ethereum blockchains. This development allows users to seamlessly convert between traditional fiat currencies and digital assets, making transactions smoother and faster in the web3 environment.
PYUSD, issued by Paxos Trust Company, is fully backed by U.S. dollar deposits and short-term U.S. Treasuries, ensuring a stable 1:1 exchange rate with the U.S. dollar. This launch aims to bolster PayPalโs digital payment services, enabling features like person-to-person payments, use at checkout, and integration with external wallets and other cryptocurrencies.
For more details, click here: [Cryptoglobe](https://www.cryptoglobe.com/latest/2024/05/paypal-launches-pyusd-on-solana-and-ethereum/)
๐ **Join the revolution in digital payments!**
