More and more companies around the world are adopting blockchain technology!
On Monday, PayPal launched its stablecoin PYUSD, backed by the US dollar, aimed at facilitating purchases and transactions.
This is the first such move by a major US financial institution.
Unlike other cryptocurrencies, PYUSD maintains a constant value reflecting the US dollar exchange rate and will be backed by assets such as cash equivalents and short-term government securities.
PYUSD has the unique feature of being exchangeable for fiat on demand and can also be converted into various other cryptocurrencies available through the PayPal network.