🚀 PayPal's PYUSD Makes Its Debut! 🚀

In a groundbreaking move, PayPal has completed its first business payment using its own USD-pegged stablecoin, PYUSD! The lucky recipient? None other than Ernst & Young, via SAP’s digital currency hub. 🤓

Launched in August 2023, PYUSD is backed by US dollar deposits and short-term US Treasurys, boasting a market cap of $699 million. This makes it the 8th largest stablecoin, according to DefiLlama.

Stablecoins like PYUSD offer a stable value, making them perfect for everyday transactions. PayPal's senior VP, Jose Fernandez da Ponte, believes the enterprise world is ready for this innovation.

What do you think? Will stablecoins revolutionize corporate payments? Drop your thoughts below! 💬