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Definition: PayPal USD


A stablecoin from PayPal. Introduced in the summer of 2023 and pegged to the U.S. dollar, PayPal USD (PYUSD) coins are issued by Paxos Trust, a limited purpose trust company regulated by New York State. When PYUSD customers make a purchase, PayPal sells their crypto to pay in cash. PayPal USD can be also sent to Ethereum and Solana wallet addresses. See stablecoin and PayPal.