PayPal to launch its own stablecoin backed by the US dollar
PayPal, the online payments giant, is set to launch a US dollar-denominated stablecoin, PayPal USD (PYUSD), in a bid to address the emerging potential of fully-backed and regulated stablecoins to transform payments in Web3 and digitally native environments. Stablecoins are cryptocurrencies that are pegged to a fiat currency or another asset, such as gold, to…