The PayPal upgrade. A new entry in the cryptomarket

8 August 2023


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PayPal, the global payments giant, has announced that it will enter the crypto market. It will do so through its own stablecoin, PayPal USD based on Ethereum.

The PayPal USD will be pegged to the U.S. dollar and issued by Paxos Trust.

The token will soon be available in the U.S., and PayPal will lead the way as the first major financial company to issue its own stablecoin.

Users will be able to transfer and convert any PayPal-supported cryptocurrency to and from PayPal USD.

SOURCE: CoinDesk

READ ALSO ---> PayPal USD: how the PayPal stablecoin works

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