Paypal Plans to Expand PYUSD Stablecoin to Arbitrum

According to the newly released $PYUSD stablecoin terms of service, Paypal plans to add the $PYUSD stablecoin to the Arbitrum chain. $PYUSD is issued by Paxos, is priced at $1, and is fully backed by U.S. dollar deposits, U.S. Treasury bonds, and U.S. Treasury repurchase agreements. PayPal is also launching a $PYUSD rewards program that allows eligible users to earn rewards based on their holdings. [Foresight News]