PayPal Launches US Dollar-Backed Stablecoin
PayPal USD (PYUSD) is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents, and can be redeemed 1:1 for U.S. dollars SAN JOSE, Calif., Aug. 7, 2023 /PRNewswire/…
Paxos Comments on PYUSD
On August 7, 2023, PayPal announced the launch of PYUSD, a US dollar-backed stablecoin issued by Paxos Trust Company. Paxos CEO and Co-Founder Charles Cascarilla had the following comment:
What stablecoins does Paxos power?
Paxos powers industry-leading stablecoins: Pax Dollar (USDP) and PayPal USD (PYUSD). Each token is backed 1:1 by the US dollar and Paxos custodies all of the dollar reserves backing each…
What currencies do you support?
We offer crypto trading for AAVE, BCH, BTC, ETH, LINK, LTC, MATIC, PAXG, PYUSD, UNI and USDP.