10 Things You Should Know About PayPal Stablecoin 

Posted- 07 August 2023

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

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

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

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

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

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

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

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

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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