In 50 Words: PayPal launches PYUSD stablecoin to streamline Web3 payments

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In 50 Words: PayPal launches PYUSD stablecoin to streamline Web3 payments

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PayPal has launched its USD stablecoin, PayPal USD (PYUSD), backed by US dollar deposits and short-term US treasuries. The PYUSD is issued by Paxos Trust Company and can be redeemed 1:1 for US dollars. It aims to streamline digital payment processes in the growing Web3 environment.

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