PayPal Stablecoin PYUSD Surpasses $2.5 Billion in Circulation

Launched in August 2023, PYUSD is backed by cash and Treasuries and operates on the Ethereum blockchain.

ETH
PYUSD

Summary

No Summary provided as the original text is short

Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset such as fiat currency or government securities to reduce price volatility.
  • Ethereum: A decentralized blockchain platform that supports smart contracts and decentralized applications.
  • Treasuries: Government-issued debt securities considered low risk, often used as backing for stablecoins.