Paxos Mints 150 Million PYUSD on Ethereum Blockchain

Paxos’ new PYUSD issuance on Ethereum, flagged by Whale Alert, marks a significant expansion in the stablecoin’s supply.

ETH

PYUSD

165d ago

Summary

Paxos has minted 150 million PYUSD tokens on the Ethereum blockchain, a significant expansion of the stablecoin’s circulating supply. The minting event was flagged by blockchain tracker Whale Alert. PYUSD is a U.S. dollar-backed stablecoin created by Paxos for use in blockchain transactions and payments.

Terms & Concepts

PYUSD: A U.S. dollar-backed stablecoin issued by Paxos, designed for transactions and payments on blockchain networks.
Token Minting: The process of creating new cryptocurrency tokens on a blockchain, increasing the total supply.
Ethereum Blockchain: A decentralized, open-source blockchain featuring smart contract functionality, widely used for token issuance and decentralized applications.