United

<div class="sg-post-des">
  Payment processing giant PayPal started crypto payments in March 2021 and since then has been actively involved in the crypto payment sector. 
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<div class="cointelegraph"> 
 <p>Financial technology company PayPal <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a>ed a new crypto <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> called&nbsp;PayPal USD (PYUSD) on Aug. 7.&nbsp;</p> 
 <p> The new <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> will be issued by Paxos Trust Co. and fully backed by United States dollar deposits, short-term Treasuries and similar cash equivalents, according to a Bloomberg report. The firm said that the new <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> will be available soon to the United States customers.</p> 
 <p>The <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> of a <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> could push the company's bid to become a crypto <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> giant, a contention that the company started in first quarter of 2021 after making way for crypto <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s on the paltform.</p> 
 <p>The company first confirmed its plan to launch a crypto stablecoin in January 2022 claiming it would work on the stablecoin and will do so while working closely with relevant regulators.</p> 
 <p class="post-content__disclaimer">This is a developing story, and further information will be added as it becomes available. </p> 
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Breaking: Paypal launches stablecoin for payment

TheBitTimes

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