American payment giant PayPal announced the launch of PYUSD, a compliant digital stablecoin, issued by Paxos Trust and fully supported by U.S. dollar deposits, short-term treasury bonds, etc. In the coming weeks, eligible U.S. customers will be able to buy and sell PYUSD for $1 directly through PayPal. PayPal will support the exchange of PYUSD with any cryptocurrency and provide users with payment scenarios, including the option to use PYUSD for purchases and person-to-person payments at checkout. PYUSD will support mobile payment service Venmo in the future, and combined with PayPal's existing 430 million users, it is expected to usher in large-scale encryption adoption. Compliant deposit and withdrawal channels will bring more liquidity to the crypto ecosystem and promote the integration of crypto stablecoins with traditional finance and the real economy.