PYUSD is the latest coin that PayPal is launching. It is a U.S. dollar-backed stablecoin, which means that it is always worth 1 USD. PYUSD is issued by Paxos Trust Company and is fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents. This means that PayPal customers can be confident that their PYUSD is always safe and secure.
PYUSD can be used to fund purchases on PayPal and Venmo, and it can also be exchanged for other cryptocurrencies. It is the first stablecoin to be launched by a major financial institution, and it is expected to play a significant role in the adoption of cryptocurrencies by mainstream consumers.
PayPal announced the launch of PYUSD on August 7, 2023. It is currently only available to PayPal customers in the United States, but it is expected to be rolled out to more countries in the coming months.
Here are some of the benefits of using PYUSD:
It is always worth 1 USD, so you don't have to worry about its value fluctuating.
It is backed by secure and liquid assets, so it is safe and secure.
It can be used to fund purchases on PayPal and Venmo, and it can also be exchanged for other cryptocurrencies.
It is the first stablecoin to be launched by a major financial institution, which gives it credibility.
If you are looking for a stable and secure way to store your money, or if you want to use cryptocurrency to make purchases, PYUSD is a good option.