#PayPal launches PYUSD stablecoin backed by the US dollar on the Ethereum Blockchain.

In a press release earlier today, PayPal said the stablecoin was launched in conjunction with #Paxos . The stablecoin will be pegged to the US Dollar and made available to PayPal’s customers in the United States over the coming weeks and months. The stablecoin will be fully backed by U.S. dollar deposits, short-term Treasuries and similar cash equivalents.