The news is being updated
Payments giant PayPal has announced the launch of the PayPal USD (PYUSD) “stablecoin”. The issuer is the infrastructure company Paxos.
According to the announcement, the asset is fully collateralized by “US dollar deposits, short-term treasury bills and similar cash equivalents.” PYUSD is pegged to the US national currency at a ratio of 1:1.
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