Paypal Plans to Extend PYUSD Stablecoin to Arbitrum Chain

On July 16, according to the latest published $PYUSD stablecoin terms of service, Paypal plans to add the $PYUSD stablecoin to the Arbitrum chain (previously launched on the Ethereum and Solana networks).

$PYUSD is issued by Paxos, with its price fixed at $1.00, and is fully backed by U.S. dollar deposits, U.S. Treasury bonds, and U.S. Treasury repurchase agreements. PayPal has also launched a $PYUSD rewards program, allowing eligible users to earn rewards based on their holdings.