Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
PayPal stablecoin PYUSD now purchasable on MoonPay in all supported countries (except Canada)

PayPal stablecoin PYUSD now purchasable on MoonPay in all supported countries (except Canada)

The BlockThe Block2024/10/01 16:00
By:The Block

Quick Take PayPal USD can now be purchased on MoonPay via all major payment methods in all supported countries, excluding Canada. PYUSD is a dollar-redeemable, payments-focused stablecoin reportedly backed 100% by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents.

MoonPay is now supporting PayPal USD, the online payments system's dollar-denominated stablecoin issued by Paxos Trust Company. PYUSD +0.12% can now be purchased on MoonPay via all major payment methods in all supported countries, excluding Canada.

MoonPay's support for PYUSD comes after the two companies announced a strategic integration in May 2024 to let MoonPay users buy and sell crypto using their PayPal accounts.

PYUSD is a dollar-redeemable, payments-focused stablecoin reportedly backed 100% by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents. It was one of the first consumer-facing stablecoins launched by a major financial services company, and fintech giants Robinhood and Revolut are reportedly interested in following suit .

PayPal has long been interested in capturing market share among significant fintech companies operating in the digital assets space. Late last month, PayPal announced plans to enable business customers in the United States to buy, sell, hold and transfer cryptocurrencies.

PayPal's stablecoin surpassed $1 billion in market capitalization in August but has since dropped to approximately $705 million, according to DefiLlama. Following the expansion of PYUSD to Solana, its supply on the network surpassed that of rival blockchain Ethereum. However, the PYUSD supply on Solana has decreased back below the total supply on Ethereum .


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!