💳 PayPal and its crypto: Everything to know quickly

In August 2023, PayPal launched its own cryptocurrency called PayPal USD (PYUSD), a stablecoin designed to revolutionize digital payments. Unlike volatile cryptos like Bitcoin, PYUSD is always equal to 1 dollar, as it is 100% backed by reserves in US dollars, Treasury bonds, and safe assets.

✅ Key points of PYUSD:

🔗 Created by PayPal, but issued by a regulated company, Paxos Trust Company.

💵 Its value remains stable (1 PYUSD = 1 USD).

🌍 Available in PayPal and Venmo wallets and soon to be used for payments globally.

⚡️ Can be transferred quickly with low fees, especially on fast blockchains like Solana.

💡 With PYUSD, PayPal aims to make crypto transactions as easy as sending a message, while maintaining the stability of the dollar. This is an important step towards the widespread adoption of cryptos in daily payments, as it connects the traditional world of payments with blockchain technologies.

📌 In summary:

PayPal did not create a “speculative crypto,” but a practical and stable stablecoin, aimed at facilitating payments, reducing fees, and making transactions faster, all while remaining firmly anchored to the US dollar.