PayPal USD $PYUSD

PayPal USD is a revolutionary cryptocurrency project that harnesses the potential of stablecoins for payments. This stablecoin is fully secured by U.S. dollar deposits, short-term U.S Treasuries, and similar cash equivalents. The PayPal USD token is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company. This remarkable project is a significant leap towards a decentralized and digital financial future.

PayPal USD's Features

Beginning August 7, 2023, and continuing over the following weeks, eligible U.S. PayPal customers who purchase PayPal USD will have access to a variety of features. These include the ability to transfer PayPal USD between PayPal and compatible external wallets, make person-to-person payments using PYUSD, fund purchases with PayPal USD by selecting it at checkout, and convert any of PayPal's supported cryptocurrencies to and from PayPal USD. These offerings ensure that PayPal USD is not just user-friendly, but also versatile in its usage.

Person-to-Person Payments using PYUSD

One of the key features of PayPal USD is the ability to send person-to-person payments using PYUSD. This function facilitates seamless and instant transfers, eliminating the traditional banking procedures and wait times. User can simply select PayPal USD as their preferred payment method at checkout.

Conversion of Supported Cryptocurrencies

PayPal USD also supports conversion of PayPal's supported cryptocurrencies to and from PayPal USD. This flexibility provides users with more control over their assets and allows for easy conversion and management of their cryptocurrencies.

Who Issues PayPal USD?

PayPal USD is issued by the Paxos Trust Company. Known for its commitment to transparency and compliance, Paxos Trust Company ensures that PayPal USD is 100% backed by secure assets, providing users with an added level of confidence and reliability.