PayPal Launches Native Stablecoin as Part of Crypto Expansion



PayPal is launching its own stablecoin called PayPal USD, which will be issued by Paxos Trust Co. The stablecoin is backed by short-term treasuries, dollar deposits, and cash equivalents. This move is part of PayPal's expansion into the crypto industry, following the launch of its crypto checkout service for merchants in March 2021.
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