• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, October 16, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

PayPal Launches PYUSD Stablecoin to Usher in New Era of Digital Payments

7 August 2023
in Latest News, News
Reading Time: 3 mins read
114 4
PayPal Launches PYUSD Stablecoin to Usher in New Era of Digital Payments

source: bloomberg.com

In a decisive move that underscores the growing influence of cryptocurrencies in the financial landscape, PayPal has taken the plunge into the world of stablecoins. 

On August 7, 2023, PayPal announced its entry product into the world of cryptocurrencies: the PayPal USD (PYUSD) stablecoin. This new stablecoin derives its value from U.S. dollar deposits, short-term U.S. Treasuries, and comparable liquid assets. Paxos Trust Co will manage its issuance.

PYUSD operates within the Ethereum ecosystem, and it is designed to prioritize digital transactions and Web3 principles. It will facilitate seamless transfers between PayPal accounts and external wallets. Users can also engage in person-to-person payments and make purchases by selecting PYUSD during checkout. Additionally, PYUSD supports conversions between supported cryptocurrencies and itself.

PayPal announced that the stablecoin will soon be accessible to customers in the United States. 

The launch of PYUSD signifies PayPal’s attempt to harness the benefits stablecoins offer within the realm of transactions and digital finance.

Dan Schulman, PayPal’s CEO, explained the rationale behind the creation of PYUSD, stating:

“The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar.”

Schulman emphasized that PayPal’s dedication to responsible innovation and adherence to regulations, combined with their proven history of introducing novel customer experiences, establishes the essential groundwork for their active role in advancing the expansion of digital payments using PayPal USD.

PayPal also noted that starting in September 2023, Paxos will release a monthly public Reserve Report for PayPal USD. This report will detail the specific instruments that constitute the reserves. Additionally, Paxos will provide a publicly accessible third-party attestation verifying the value of PayPal’s USD reserve assets.

This leap into stablecoins comes after PayPal’s robust portfolio cryptocurrency space became public knowledge. In February 2023, it came to light that PayPal concluded the year 2022 with a cryptocurrency portfolio worth $604 million. This information was disclosed in their annual report to the U.S. Securities and Exchange Commission (SEC), which highlighted their holdings of various cryptocurrencies, such as Bitcoin, Ether, Litecoin, and Bitcoin Cash.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.

Tags: PaxosPayPalStablecoin
Share69Tweet43Share12
Favour Udeo

Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

Related Posts

U.S. Indicts Prince Group Founder Over Multi-Billion Dollar Crypto Scam and Human Trafficking Ring
Crime

U.S. Indicts Prince Group Founder Over Multi-Billion Dollar Crypto Scam and Human Trafficking Ring

15 October 2025
Stablecoin Surge Signals Renewed Crypto Market Momentum
News

Stablecoin Surge Signals Renewed Crypto Market Momentum

15 October 2025
OKX blocks funds tied to Cambodia’s Huione Group after U.S. designates it a major crypto-linked money laundering network.
Crime

OKX Blocks Funds Linked to Huione Group Following U.S. Money Laundering Designation

15 October 2025
New York City Establishes First-Ever Municipal Office for Digital Assets and Blockchain
Blockchain

New York City Establishes First-Ever Municipal Office for Digital Assets and Blockchain

15 October 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

What Are Teardrop Attacks in Crypto?

byOlajumoke Oyaleke
17 June 2025
0

What Are Fractional NFTs, and How Do They Work?

What Are Fractional NFTs, and How Do They Work?

byBlessing Lisafi
7 February 2024
0

Read More

Chain of Thoughts

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

byOlu Omoyele
27 September 2025
0

...

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Markets Update

Crypto in Latin America: Adoption Booms as Media Visibility Falls

2 days ago

Your Weekend Crypto Roundup | October 2025 (Week 2)

5 days ago

Your Weekend Crypto Roundup | October 2025 (Week 1)

2 weeks ago

What $1 Billion in Liquidations Means for Market Stability

2 weeks ago

Why Crypto’s Cross-Chain Future Depends on Regulatory Readiness

2 weeks ago

MicroStrategy’s Debt-Fueled Bitcoin Buys: Smart Treasury Move or Dangerous Precedent?

2 weeks ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    xMoney Launches $XMN on Sui, Expands Listings Across Global Exchanges

    bychainwire
    15 October 2025
    0

    ZETA NETWORK GROUP (NASDAQ: ZNB) STRENGTHENS BALANCE SHEET WITH USD 231 MILLION BITCOIN-BACKED INVESTMENT AMID MARKET TURBULENCE

    bychainwire
    15 October 2025
    0

    On-Chain Cultural Assets: Decoding City Protocol’s IP Capital Market

    bychainwire
    14 October 2025
    0

    Tria raises $12M to be the leading self-custodial neobank and payments infrastructure for humans and AI.

    bychainwire
    14 October 2025
    0

    AriyaX Capital Launches AXPT: A Regulated Aviation-Backed Token Bringing Real-World Asset Yield to Blockchain

    AriyaX Capital Launches AXPT: A Regulated Aviation-Backed Token Bringing Real-World Asset Yield to Blockchain

    byGuest Author
    13 October 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Market Analysis
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverse
      • Glossary
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00