PayPal has launched PayPalUSD (PYUSD). Its own stablecoin

PayPal he said launching its own stablecoin cryptocurrency called PayPalUSD (PYUSD). The new digital currency is pegged to the US dollar and fully backed by US dollar deposits held by PayPal.

stablecoin paypalusd

Το PYUSD θα επιτρέψει στους πελάτες της PayPal να πραγματοποιούν πληρωμές peer-to-peer, αγορές και μεταφορά υπολοίπων μεταξύ PayPal wallets και εξωτερικών crypto wallets. Οι χρήστες της διαδικτυακής τράπεζας θα μπορούν επίσης να κάνουν εύκολα μετατροπές μεταξύ PYUSD και άλλων κρυπτονομισμάτων που υποστηρίζονται από την PayPal, όπως τα Bitcoin, Ethereum και .

Stablecoins are cryptocurrencies designed to have a stable value, usually backed by fiat currencies such as the US dollar. They aim to provide the benefits of digital currencies while avoiding the volatility commonly seen in currencies like Bitcoin. However, some stablecoins have failed to keep their pledges in recent years, most notably TerraUSD.

PYUSD was developed on the Ethereum blockchain and will be issued by Paxos Trust Company, a regulated blockchain infrastructure provider. The new currency will be made available to US PayPal customers in the coming weeks. It will also be coming soon to the Venmo app, which is owned by PayPal.

The launch of PYUSD comes as no surprise given PayPal's growing interest in cryptocurrency services. In 2020, the company allowed its users to buy, hold and sell cryptocurrencies within PayPal.

In Europe there is still no such possibility. The Best Technology Site in Greecefgns

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Written by giorgos

George still wonders what he's doing here ...

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