Stablecoin

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PayPal, the San Jose, California-based payments giant, has unveiled its own stablecoin, PayPal USD (PYUSD), which it hopes will foster broader adoption of digital tokens for payments, Bloomberg reports.&nbsp; 
This development is a milestone in the digital payments realm since it is PayPal’s most significant move in the cryptocurrency space since it first ventured into it in late 2020 — a pivotal moment for the industry. 
The PYUSD, which is pegged to the dollar, is issued by Paxos Trust. &nbsp; 
The coin will gradually be made accessible to PayPal’s vast customer base. 
Dan Schulman, the outgoing CEO of PayPal, underscored the long-term vision for PYUSD, remarking that it’s anticipated to become an integral component of the overall payments infrastructure.

Breaking: PayPal Launches Its Own Stablecoin

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