PayPal announced the launch of its U.S. dollar stablecoin on Aug. 7 and has since seen listings on major crypto exchanges, wallets, and service providers.
of the stablecoin, saying at the time it would be issued by Paxos Trust and fully backed by U.S. dollar deposits, short-term Treasuries and similar cash equivalents.
“PYUSD is already present in native crypto experiences, and continues to be made more broadly available as the ecosystem grows,” said PayPal. “In the few weeks since its launch in the open market, PYUSD is already present on select exchanges including Crypto.com, Bitstamp, Coinbase, and Kraken."
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