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PayPal is introducing a stablecoin called PayPalUSD (PYUSD). The firm states that the crypto token is “fully backed by U.S. dollar deposits” and that you can buy or sell PYUSD for $1.00 through PayPal’s app or website.
Using PYUSD, you can send payments between people, pay with the stablecoin at checkout, and move PYUSD between PayPal and external wallets. PayPal also says you can swap PayPal-supported currencies to and from PYUSD.
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