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Piero Cingari

PayPal Unveils USD-Backed Stablecoin PYUSD In Digital Payments Revamp

PayPal United States PayPal Holdings Inc Dan Schulman Paxos
A PayPal logo in the illustration. The PayPal USD will be pegged to the U.S. and issued by Paxos Trust. (MUHAMMAD ASYFAUL/BENZINGA)

In a significant move to bolster the adoption of digital tokens for transactions, PayPal Holdings Inc. (NASDAQ:PYPL) announced Monday the launch of a new U.S. dollar-denominated stablecoin.

Named PayPal USD (PYUSD), this digital currency is the brainchild of the San Jose-based financial giant and is set to be a game-changer in the realm of digital payments and the fintech world.

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