PayPal USD (PYUSD) is a stablecoin that is referencing (pegged to) the U.S. dollar. PYUSD is classified as a centralized stablecoin, backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents and is redeemable 1:1 for U.S. dollars.
PayPal USD (PYUSD)
PayPal USD (PYUSD) is a stablecoin that is referencing (pegged to) the U.S. dollar. PYUSD is classified as a centralized stablecoin, backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents and is redeemable 1:1 for U.S. dollars.
PayPal and Paxos's promising stablecoin is lagging behind its rivals. PYUSD circulation has dropped, and new partnerships and integrations are rare and far from impressive.
Despite PayPal’s dominant position in the payments business, its stablecoin project, PYUSD, has stalled. Numerous integrations have not managed to attract users. The company is now subsidizing the stablecoin’s yield on DeFi platforms. Can this become a standard feature of private money?
Despite PayPal’s dominant position in the payments business, its stablecoin project, PYUSD, has stalled. Numerous integrations have not managed to attract users. The company is now subsidizing the stablecoin’s yield on DeFi platforms. Can this become a standard feature of private money?
PayPal and Paxos's promising stablecoin is lagging behind its rivals. PYUSD circulation has dropped, and new partnerships and integrations are rare and far from impressive.
On Monday, online payments processor PayPal announced the launch of its long-promised dollar-pegged stablecoin. The token was originally expected in Q1 2023, but was delayed following an SEC notice against issuing partner Paxos.
