10 Things You Should Know About PayPal Stablecoin 

PayPal launches its own stablecoin, named PayPal USD, to promote crypto payments.

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This makes PayPal the first major financial services company to issue its stablecoin.

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The stablecoin will be backed by U.S. dollar deposits, short-term Treasuries, and similar cash equivalents.

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Paxos Trust Company will be responsible for issuing the PayPal USD stablecoin.

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Stablecoins are crypto tokens pegged to assets like the U.S. dollar, traditionally used for trading payments

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PayPal's CEO, Dan Schulman, sees PayPal USD as a key tool for supporting the growth of digital payments.

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Eligible U.S. customers can use PayPal USD to facilitate transfers, p2p payments, and purchases.

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All of PayPal's supported cryptocurrencies can be converted to PayPal USD.

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The move is aimed at expanding PayPal's digital payment options following a decline in online spending due to the pandemic.

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