Infrastructure · August 7, 2023
PayPal launches PYUSD, the first dollar stablecoin from a major US financial company
Price at event
$29,182
Today
$73,594
Since then
×2.5
On August 7, 2023, PayPal launched PayPal USD (PYUSD), an Ethereum-based stablecoin pegged 1:1 to the dollar and issued by Paxos Trust, making it the first dollar stablecoin from a major US payments firm. After years of the industry insisting stablecoins were a fringe crypto curiosity, a mainstream payments giant decided they were core infrastructure worth owning.
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