PayPal USD
PayPal USD
PYUSD
PayPal USD Timeline
PayPal USD Token allocation
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- Sep,2024PayPal completed its first B2B payment using PYUSD, paying Ernst & Young via SAP’s digital currency hub
- Apr,2024PYUSD was integrated with the Solana blockchain to offer faster, cheaper transactions, expanding its use for payments
- Aug,2023Paxos published its first transparency report, confirming that all circulating PYUSD is fully backed by U.S. dollar reserves
- Aug,2023PYUSD was enabled for transfers between PayPal and external wallets, person-to-person payments, and checkout purchases
- Aug 6,2023PayPal launched PYUSD, a fully USD-backed stablecoin issued by Paxos, designed for payments, transfers, and cryptocurrency conversions
PayPal USD Info
- Sep,2024PayPal completed its first B2B payment using PYUSD, paying Ernst & Young via SAP’s digital currency hub
- Apr,2024PYUSD was integrated with the Solana blockchain to offer faster, cheaper transactions, expanding its use for payments
- Aug,2023Paxos published its first transparency report, confirming that all circulating PYUSD is fully backed by U.S. dollar reserves
- Aug,2023PYUSD was enabled for transfers between PayPal and external wallets, person-to-person payments, and checkout purchases
- Aug 6,2023PayPal launched PYUSD, a fully USD-backed stablecoin issued by Paxos, designed for payments, transfers, and cryptocurrency conversions
PayPal USD Intro
PayPal USD (PYUSD) is a stablecoin designed to capitalize on the growing opportunities in digital payments, particularly in the stablecoin sector. Officially launched on August 7, 2023, PYUSD is positioned as a versatile digital asset that integrates seamlessly with PayPal’s platform, offering a secure and stable digital currency experience.
PayPal USD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents, ensuring that its value remains stable at a 1:1 ratio with the U.S. dollar. This level of backing assures users that they can redeem PYUSD for U.S. dollars at any time, making it an attractive option for those who seek the stability of traditional currency with the flexibility of digital payments.
What sets PYUSD apart from other stablecoins is its functionality within the PayPal ecosystem. It allows U.S. PayPal customers to use it not only for holding or transferring money but also as an effective tool for online transactions. With PYUSD, users can fund purchases by selecting it at checkout on PayPal, send person-to-person payments seamlessly, and even convert other cryptocurrencies supported by PayPal to and from PYUSD.
Issued by Paxos Trust Company, PYUSD benefits from being under the oversight of a regulated financial institution, ensuring that it adheres to U.S. financial regulations, which enhances its security and trustworthiness. The ability to transfer PYUSD between PayPal and compatible external wallets also extends its usability beyond the PayPal platform, bridging the gap between centralized payment systems and the decentralized cryptocurrency ecosystem.
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Q&A about PayPal USD Tokenomics
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What is the allocation for PayPal USD (PYUSD)?
PYUSD does not have an initial allocation or pre-mined tokens. The issuance and burning of PYUSD are entirely demand-driven, based on user interactions with the PayPal and Paxos platforms.
What is the supply schedule for PayPal USD (PYUSD)?
PYUSD operates as a fully collateralized stablecoin, meaning its supply dynamically adjusts based on demand. When a user purchases PYUSD, the corresponding amount of U.S. dollars is deposited into Paxos Trust Company's reserves. These reserves are held in U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents. Paxos then mints an equivalent amount of PYUSD on the blockchain to match the dollar reserves.
Conversely, when users redeem PYUSD for U.S. dollars, Paxos burns the equivalent amount of PYUSD, reducing the supply. This ensures that the circulating supply of PYUSD is always backed 1:1 by U.S. dollar reserves, maintaining the stablecoin's value and stability.
Paxos regularly publishes transparency reports and independent attestations to verify the reserve holdings and ensure the supply matches the amount of PYUSD in circulation. These reports can be accessed on the Paxos PYUSD Transparency Page.
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PayPal USD (PYUSD) is a stablecoin designed to capitalize on the growing opportunities in digital payments, particularly in the stablecoin sector. Officially launched on August 7, 2023, PYUSD is positioned as a versatile digital asset that integrates seamlessly with PayPal’s platform, offering a secure and stable digital currency experience.
PayPal USD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents, ensuring that its value remains stable at a 1:1 ratio with the U.S. dollar. This level of backing assures users that they can redeem PYUSD for U.S. dollars at any time, making it an attractive option for those who seek the stability of traditional currency with the flexibility of digital payments.
What sets PYUSD apart from other stablecoins is its functionality within the PayPal ecosystem. It allows U.S. PayPal customers to use it not only for holding or transferring money but also as an effective tool for online transactions. With PYUSD, users can fund purchases by selecting it at checkout on PayPal, send person-to-person payments seamlessly, and even convert other cryptocurrencies supported by PayPal to and from PYUSD.
Issued by Paxos Trust Company, PYUSD benefits from being under the oversight of a regulated financial institution, ensuring that it adheres to U.S. financial regulations, which enhances its security and trustworthiness. The ability to transfer PYUSD between PayPal and compatible external wallets also extends its usability beyond the PayPal platform, bridging the gap between centralized payment systems and the decentralized cryptocurrency ecosystem.