Stablecoin

Solana

PayPal USD

Bitcoin

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    <h4><strong>PayPal’s <a href="https://www.altcoinbuzz.io/?s=stablecoin" target="_blank" rel="noopener">stablecoin</a>, PayPal USD (PYUSD), has reached a significant milestone. </strong></h4> 
    <p>It has surpassed $1 billion in total market capitalization, according to CoinMarketCap data. Let’s explore more about PYUSD.</p> 
    <h5><strong>PYUSD Hits $1B Market Cap, Competing with Top Stablecoins</strong></h5> 
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<p><a href="https://newsroom.paypal-corp.com/2023-08-07-PayPal-Launches-U-S-Dollar-Stablecoin" target="_blank" rel="noopener">Launched</a> in 2023, PYUSD is a US dollar-pegged stablecoin issued by <a href="https://paxos.com/" target="_blank" rel="noopener">Paxos Trust Company</a>. It is a US-regulated crypto custodian. PYUSD is backed 1:1 by US dollars, ensuring stability and trust for its users. As an Ethereum-compatible ERC-20 token, PYUSD is the only stablecoin integrated into PayPal’s payment infrastructure.</p> 
<p>It is designed to be easily adopted by developers, wallets, and Web3 applications. It makes it a versatile option for those involved in the cryptocurrency ecosystem.</p> 
<p><img decoding="async" class="wp-image-149117 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vxcfgdgdfdfgfd-300x108.png" alt="" width="614" height="221" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vxcfgdgdfdfgfd-300x108.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vxcfgdgdfdfgfd-768x276.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vxcfgdgdfdfgfd-696x250.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vxcfgdgdfdfgfd.png 957w" sizes="(max-width: 614px) 100vw, 614px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://www.coingecko.com/en/categories/stablecoins" target="_blank" rel="noopener">Coinmarketcap</a></strong></h6> 
<p>To enhance PYUSD’s accessibility and appeal, PayPal has partnered with various companies and platforms. In May, the company <a href="https://newsroom.paypal-corp.com/2024-05-29-PayPal-USD-Stablecoin-Now-Available-on-Solana-Blockchain,-Providing-Faster,-Cheaper-Transactions-for-Consumers" target="_blank" rel="noopener">launched</a> PYUSD on the Solana blockchain, working with Crypto.com, Phantom, and Paxos.</p> 
<h5><strong>More About PYUSD’s Growth</strong></h5> 
<p>Additionally, PayPal <a href="https://newsroom.paypal-corp.com/2024-05-02-MoonPay-Now-Lets-Users-Buy-Sell-Crypto-funded-by-PayPal" target="_blank" rel="noopener">teamed up</a> with Web3 infrastructure provider MoonPay to enable cryptocurrency purchases using PayPal accounts. In July, PayPal further extended this partnership to on-ramp users to the crypto betting platform Polymarket. Here are more stats about PYUSD:</p> 
<p><img decoding="async" class="wp-image-149118 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/csdvsdvfdfd-300x143.png" alt="" width="596" height="284" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/csdvsdvfdfd-300x143.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/csdvsdvfdfd-768x365.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/csdvsdvfdfd-884x420.png 884w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/csdvsdvfdfd-696x331.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/csdvsdvfdfd.png 981w" sizes="(max-width: 596px) 100vw, 596px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://dune.com/0xkhmer/paypal-usd" target="_blank" rel="noopener">Dune</a></strong></h6> 
<p>PayPal has also <a href="https://www.anchorage.com/insights/anchorage-digital-introduces-stablecoin-rewards-holders-paypal-usd" target="_blank" rel="noopener">collaborated</a> with Anchorage Digital. They aimed to create a rewards program for clients who have custody of PYUSD with the crypto custodian.</p> 
<p>So, these efforts are part of PayPal’s broader strategy to integrate this stablecoin into the growing digital finance landscape. The goal is to make it a preferred stablecoin for users and developers alike.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/paypals-pyusd-stablecoin-surpasses-1b-market-cap/">PayPal’s PYUSD Stablecoin Surpasses $1B Market Cap</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

PayPal’s PYUSD Stablecoin Surpasses $1B Market Cap

Altcoin Buzz

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