PayPal USD (PYUSD) is a stablecoin launched by PayPal for payments. It’s backed by secure and highly liquid assets, pegged to the US dollar at a 1:1 ratio. PYUSD is an ERC20 token issued on the Ethereum blockchain, allowing PayPal customers, merchants, and developers to seamlessly connect fiat and digital currencies. It can be used to fund purchases and will soon be available on Venmo. PYUSD was created by PayPal, an American company operating a worldwide online payments system that supports online money transfers.
