PayPal USD
PYUSD
$0.999974
Current Price
-0.02%
24h Change
Info
PYUSD
Symbol
$3.03B
Fully Diluted Valuation
$3.04B
Market Cap
35
Market Rank
3.03B
Total Supply
$50.13M
Total Volume
$1.00
24h High
$0.998705
24h Low
About PayPal USD
PayPal USD (PYUSD) is a stablecoin developed by PayPal with the primary goal of enhancing transactional efficiency in digital payments and bridging traditional finance with the burgeoning world of cryptocurrencies. PYUSD is pegged to the US dollar, providing a reliable digital asset that mitigates volatility, thereby solving a significant barrier to cryptocurrency adoption for payments. PayPal envisions PYUSD as a facilitator for seamless cross-border transactions, enabling faster, more affordable remittances and payments on a global scale. By integrating PYUSD into its vast network, PayPal aims to bolster the mainstream adoption of digital currencies, while offering its users a more stable and familiar financial instrument. Technically, PYUSD is built on the Ethereum blockchain, leveraging the widespread adoption and robust security of the ERC-20 standard. This choice ensures compatibility with a wide range of decentralized applications (dApps) and DeFi protocols, allowing for diverse use cases such as lending, borrowing, and trading within the DeFi ecosystem. The token benefits from PayPal's extensive partnerships and network, which includes millions of merchants and consumers worldwide, creating a robust foundation for its market position. Notably, PYUSD's integration into PayPal's platform signifies a pivotal step in the convergence of traditional finance with blockchain technology, showcasing its potential to redefine digital commerce and remittances.
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FAQ
Information on this page is provided for informational purposes only and does not constitute investment advice. This is not a recommendation to buy or sell any digital asset or to employ any particular investment strategy. Backpack makes no representation as to the accuracy, suitability, or validity of the information provided.
Certain content is sourced from third parties not affiliated with Backpack. Backpack is not responsible for such content, nor is it liable for any errors, delays, or actions taken in reliance on it. Prices and data are for illustrative purposes only and may differ from actual market values. Digital assets involve significant risk and can fluctuate substantially. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition, and consult your own professional advisors for legal, tax, or investment guidance.
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