PayPal introduces PYUSD, a USD-backed stablecoin, enabling payments, purchases, and currency conversions within and outside its platform.
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PayPal has introduced its own stablecoin, PayPalUSD (PYUSD), designed to maintain a stable value pegged to the US dollar. The company asserts that PYUSD is fully backed by US dollar deposits and will be available for purchase and sale at a 1:1 exchange rate of $1.00 per PYUSD through the PayPal app and website. Users can utilize PYUSD for peer-to-peer transactions, online purchases, and transfers between PayPal and external cryptocurrency wallets. Furthermore, PayPal facilitates the conversion of supported currencies into and out of PYUSD.
As of now, PayPal USD is trading at 0.9994 USD, with a 24-hour trading volume of approximately 177.24K USD. The PYUSD to USD price is updated in real time. Over the past 24 hours, PayPal USD has increased by 0.03%. It remains the top-ranked cryptocurrency on CMC.IO, with a market capitalization of about 791.21M USD. Currently, there are 791 686 562 PYUSD in circulation out of a maximum supply of 791 686 562 PYUSD.
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