PayPal Launches USD Stablecoin: Bitcoin to $250K, Ethereum 10X?

• PayPal has launched a new stablecoin, PYUSD, linked to the U.S. dollar and backed by Paxos Trust Co.
• The Clarity for Payments Stablecoin Bill was recently passed in the House Financial Committee, paving the way for further transformation of stablecoins.
• PayPal’s CEO Dan Schulman envisions PYUSD integrating into broader payments framework, which could accelerate company’s expansion into cryptocurrencies.

PayPal Launches New Stablecoin Tied to US Dollar

PayPal has recently introduced a new stablecoin named PYUSD (PayPal USD) supported by Paxos Trust Co., linked to the U.S. dollar’s value and backed by deposits in U.S. dollars, short-term Treasuries, and comparable cash forms constructed using Ethereum platform . Customers within the United States would soon be able to exchange PYUSD for U.S. dollars instantly, trade it for various cryptocurrencies on the PayPal platform, and transfer it between PayPal and Venmo .

Clarity for Payments Stablecoin Bill Passes House Financial Committee

The Clarity for Payments Stablecoin Bill has secured passage in the House Financial Committee , providing a major shift toward digital currencies with a stable instrument that is both digitally native and easily connected to fiat currency like the US dollar . This bill provides foundation necessary to contribute to growth of digital payments through PayPal USD .

PayPal’s CEO Envisions Broader Payment Framework Integration

Dan Schulman , President & CEO at PayPal , envisions its newly introduced stable coin integrating into broader payments framework as it is crafted for digital transactions and Web3 capabilities . With more than 350 million customers in both US & UK being able to purchase, sell & retain cryptocurrencies such as Bitcoin (BTC) , Ether (ETH) , Bitcoin Cash (BCH) & Litecoin (LTC), this integration could potentially boost company’s expansion into crypto-based payments.

Impact on Cryptocurrency Market

The introduction of a stable coin by PayPal might provide a much needed boost towards cryptocurrency market as Charlie Shrem predicts that this launch will skyrocket #Bitcoin to at least $250K faster than it was supposed to and #Eth likely will 10x on a faster timetable .


With Clarity for Payments StableCoin Bill securing passage in the House Financial Committee coupled with introduction of PYUSD from PayPal expanding crypto-based payment options , we can expect an exciting future ahead where digital assets are increasingly becoming part of mainstream transactions !