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Murtuza Merchant

Tether’s Ardoino Brushes Off PayPal’s Reserves-Heavy Stablecoin

PayPal Tether United States PYPL PIERRE BORTHIRYUNSPLASH Paolo Ardoino
PayPal (NASDAQ: PYPL) on Monday announced its new U.S. dollar-denominated stablecoin, PayPal USD (CRYPTO: PYUSD), emphasizing its full backing by U.S. dollar deposits, short-term U.S. treasuries and other cash equivalents. PHOTO BY PIERRE BORTHIRY/UNSPLASH

PayPal (NASDAQ: PYPL) on Monday announced its new U.S. dollar-denominated stablecoin, PayPal USD (CRYPTO: PYUSD), emphasizing its full backing by U.S. dollar deposits, short-term U.S. treasuries and other cash equivalents.

The company stated that PYUSD can be redeemed on a 1:1 basis for U.S. dollars, offering users a stable and reliable digital currency.

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