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I Just Lost My Entire Life Savings to a Magic Number on the Internet and I’m Lovin’ It!

A cartoon PayPal logo is shown soaring above a cityscape with dollar signs raining down around it. In the foreground, a giant number '1' in bold font hovers over a graph showing an upward trend.

PayPal’s PYUSD: Because Who Needs a Real Bank When You Can Have Numbers on a Computer?.

Source: cointelegraph

PayPal’s US dollar-pegged stablecoin, PayPal USD, has surpassed $1 billion in total market capitalization, according to data from CoinMarketCap. Launched in 2023, PayPal USD (PYUSD) is backed 1:1 by US dollars and is issued by Paxos Trust Company, a US-regulated crypto custodian. It competes with other regulated, dollar-backed stablecoins such as Circle Internet Financial’s USD Coin (USDC). “The shift toward digital currencies requires a stable instrument that is both digitally […]

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