PayPal<\/a> has rolled out a US dollar stablecoin, becoming the first online payment giant to adopt digital currencies for payments and transfers.<\/p>\nThe new asset, called PayPal USD (PYUSD), aims to address the \u201cemerging potential\u201d to \u201ctransform payments in Web3 and digitally native environments,\u201d according to a statement released by the company Monday. The stablecoin is designed to maintain a value of exactly $1.<\/p>\n
Shares of the San Francisco Bay-area company jumped more than 2% following the news.<\/p>\n
The stablecoin can be bought, sold, kept, or transferred directly on PayPal’s mobile app or by using its website, and can be sent as payment on PayPal without fees. Users can also convert PayPal USD to other cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"
Payments giant PayPal has rolled out a US dollar stablecoin, becoming the first online payment giant to adopt digital currencies for payments and transfers. The new asset, called PayPal USD (PYUSD), aims to address the \u201cemerging potential\u201d to \u201ctransform payments in Web3 and digitally native environments,\u201d according to a statement released by the company…<\/p>\n","protected":false},"author":1,"featured_media":3580,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[221],"tags":[489,490,486],"thb-sponsors":[],"yoast_head":"\n
PayPal Launches Its Own Dollar-Backed Stablecoin - Soul Arabia<\/title>\n<meta name=\"description\" content=\"Payments giant PayPal has rolled out a US dollar stablecoin, becoming the first online payment giant to adopt digital currencies for payments and transfers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/souljordan.com\/paypal-launches-its-own-dollar-backed-stablecoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PayPal Launches Its Own Dollar-Backed Stablecoin - Soul Arabia\" \/>\n<meta property=\"og:description\" content=\"Payments giant PayPal has rolled out a US dollar stablecoin, becoming the first online payment giant to adopt digital currencies for payments and transfers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/souljordan.com\/paypal-launches-its-own-dollar-backed-stablecoin\/\" \/>\n<meta property=\"og:site_name\" content=\"Soul Arabia\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-08T23:53:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/souljordan.com\/wp-content\/uploads\/2023\/08\/what-is-paypal1-1920x1080-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Payments giant PayPal has rolled out a US dollar stablecoin, becoming the first online payment giant to adopt digital currencies for payments and transfers.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/souljordan.com\/wp-content\/uploads\/2023\/08\/what-is-paypal1-1920x1080-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Julian Nasser\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/souljordan.com\/#organization\",\"name\":\"Soul Arabia\",\"url\":\"https:\/\/souljordan.com\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/souljordan.com\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/souljordan.com\/wp-content\/uploads\/2020\/07\/LogoHQ.png\",\"contentUrl\":\"https:\/\/souljordan.com\/wp-content\/uploads\/2020\/07\/LogoHQ.png\",\"width\":749,\"height\":210,\"caption\":\"Soul Arabia\"},\"image\":{\"@id\":\"https:\/\/souljordan.com\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/souljordan.com\/#website\",\"url\":\"https:\/\/souljordan.com\/\",\"name\":\"Soul Arabia\",\"description\":\"Welcome to the world of Soul Arabia\",\"publisher\":{\"@id\":\"https:\/\/souljordan.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/souljordan.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/souljordan.com\/paypal-launches-its-own-dollar-backed-stablecoin\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/souljordan.com\/wp-content\/uploads\/2023\/08\/what-is-paypal1-1920x1080-1.jpg\",\"contentUrl\":\"https:\/\/souljordan.com\/wp-content\/uploads\/2023\/08\/what-is-paypal1-1920x1080-1.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/souljordan.com\/paypal-launches-its-own-dollar-backed-stablecoin\/#webpage\",\"url\":\"https:\/\/souljordan.com\/paypal-launches-its-own-dollar-backed-stablecoin\/\",\"name\":\"PayPal Launches Its Own Dollar-Backed Stablecoin - 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Payments giant PayPal<\/a> has rolled out a US dollar stablecoin, becoming the first online payment giant to adopt digital currencies for payments and transfers.<\/p>\n