PayPal enters within Web3 through PYUSD 

PayPal is an online payment platform that allows users to make financial transactions securely over the internet. It was founded in December 1998 and has since become one of the most popular and widely used online payment services. PayPal enables users to send and receive money, make online purchases, and transfer funds electronically. This flexibility has contributed to PayPal's widespread adoption for various online transactions, including e-commerce, freelance work, and personal payments.

Despite its wide adoption, Paypal has decided to enter within Web3 too, in particular it has decided to enter within the stablecoins market with its new stablecoin: PYUSD.

PayPal USD is designed to maintain a stable $1 USD value. It’s backed by dollar deposits, US treasuries, and cash equivalents. Paypal users can now buy, sell, convert, pay, send and receive PYUSD within Paypal applications.

Developers can use PayPal USD as the payments layer to build new services and products on public blockchains. PYUSD is initially built on Ethereum-a blockchain built for programmability, and compatible with the most widely used exchanges, wallets and dApps.

Paypal's strategic goal is to generate a new source of income through the adoption of its stablecoin which allows them to raise liquidity to invest in low-risk, low-return assets.

PYUSD presents itself as a stablecoin straddling two worlds, that of web3 and that of web2, for this reason it could become one of the most important vectors for wider adoption, infact, there are already the first liquidity pools with this stablecoin on some decentralized finance applications!

Support Stablecomp 

Please contact us. Let's start working together!

Stablecomp logo
© Stablecomp, 2024.
All rights reserved.
Design and code:
Giorgia Bagnasco