🧵 1/4: PayPal announces PYUSD stablecoin is now available on Venmo, expanding its use in the crypto ecosystem. PYUSD is backed by U.S. dollar deposits and already present on select exchanges. #crypto
🧵 1/4: PayPal announces PYUSD stablecoin is now available on Venmo, expanding its use in the crypto ecosystem. PYUSD is backed by U.S. dollar deposits and already present on select exchanges. #crypto
🧵 2/4: Approximately 90% of PYUSD is held in wallets controlled by Paxos Trust, according to blockchain analytics firm Nansen. BitPay adds support for PYUSD, citing its payment utility and community involvement.
🧵 3/4: PayPal continues to make strides in the crypto space, accepting digital asset payments in 2021 and establishing Web3 payment on- and off-ramps in 2023. PYUSD approved by the New York State Department of Financial Services.
🧵 4/4: Deposit risk highlighted in a magazine article, exploring what crypto exchanges do with users' money.
🧵 Read more at: https://cointelegraph.com/news/paypal-rolls-out-pyusd-stablecoin-venmo
I keep up seeing more updates about PYUSD and it looks paypal is trying to make it more popular and after BUSD stepping down it may get more attention