Introduced by the trusted Paxos Trust Company and based on the Ethereum blockchain, PayPal USD (PYUSD) is a stablecoin pegged to the value of the U.S. dollar. This ERC-20 token ensures its stability by being fully backed by U.S. dollar reserves, short-term U.S. treasuries, and analogous cash assets. Share this story We’re excited to connect PayPal’s customers to other wallets, exchanges, and applications, and we will continue to roll out additional crypto features, products, and services in the months ahead. We look forward to hearing more customer and community feedback as we enhance our digital currency capabilities.
PayPal Crypto is distinctive in offering the asset as digital currencies for online purchases and cryptocurrency transactions. PayPal Purchase Protection covers purchases using cryptocurrencies. It does not protect your investments from market price volatility. FBI Reveals Lazarus Group Behind $41 Million Stake.com Hack Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.