PayPal USDPrice

(PYUSD)

PayPal USD, often referred to by its ticker PYUSD, is a digital stablecoin designed to maintain a stable value relative to the United States dollar. It was launched through a collaboration between the global payments platform PayPal and Paxos Trust Company, which serves as the official issuer of the token. The project is intended to bridge the gap between traditional fiat currencies and the decentralized Web3 ecosystem. As a regulated asset, PYUSD is issued by Paxos under the oversight of the New York State Department of Financial Services. The token is fully backed by safe and liquid assets, including U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents. This backing ensures that the digital currency can be redeemed on a one-to-one basis for U.S. dollars. From a technical perspective, the stablecoin was originally launched as an ERC-20 token on the Ethereum blockchain. This ensures broad compatibility with a wide range of digital wallets, decentralized applications, and cryptocurrency exchanges. The token has since expanded to the Solana blockchain to take advantage of that network's higher transaction speeds and lower network fees, providing more options for users and developers. For consumers, PYUSD is integrated directly into the PayPal and Venmo apps. Users can use the token to send money to friends and family, fund purchases at millions of online retailers that accept PayPal, or transfer it to external digital wallets. For developers and the broader crypto community, it provides a regulated and transparent asset for use in decentralized finance protocols and as a stable medium of exchange within virtual environments. Transparency is a major focus of the project. To maintain trust, Paxos publishes monthly reports that detail the specific assets held in reserve to back the token. These reports are accompanied by third-party attestations to verify that the supply of tokens is fully collateralized. By combining the infrastructure of a major global payment processor with blockchain technology, PayPal USD aims to modernize digital payments and encourage the mainstream adoption of digital assets for everyday transactions and financial services. Learn more

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