PayPal to Integrate Crypto Stablecoin $PYUSD on Venmo
PayPal today introduced its crypto stablecoin PYUSD . PayPal USD will be pegged to the US dollar and backed by cash equivalents and short-term treasuries. PYUSD will be redeemable for dollars at any time. It can also be exchanged for other cryptocurrencies available on PayPal’s network, according to PayPal’s announcement. PYUSD can be used to fund purchases and will soon be available on PayPal’s popular payments app Venmo . Users will eventually be able to send their token holdings between a PayPal and a Venmo wallet. JUST IN: PayPal to integrate crypto stablecoin $PYUSD on Venmo. — Watcher.Guru (@WatcherGuru) August 7, 2023 PayPal introduced a feature that enabled users to store, buy, and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in 2020. In June 2022, the company further expanded its offering by allowing users to transfer cryptocurrencies to external wallets. Now, the service is integrating its first-ever stablecoin. ...