What is PayPal USD?

Symbol: PYUSD · Market cap rank: #33

Short answer

PayPal USD (PYUSD) is a cryptocurrency currently ranked #33 by market capitalisation. It is classified as Stablecoin.

Source: isthiscoinascam.com

Overview

PayPal USD is a stablecoin that aims to enhance payment opportunities within the cryptocurrency space. It is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents.

This stablecoin is issued by Paxos Trust Company and is redeemable on a 1:1 basis for U.S. dollars, ensuring stability in its value. Its architecture is designed to facilitate secure and efficient transactions.

Launched: 2023

Headquarters: San Jose, California, USA

Scam-risk analysis

PayPal USD is rated A on isthiscoinascam.com. Is PayPal USD a scam?

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