TTB White LOGO TB
  • News
  • PC & Hardware
  • Mobiles
  • Gaming
  • Electronics
  • Gadget
  • Reviews
  • How To
Trending
PlayStation Stars Program Ends Sony Promises New Loyalty Plans
Google’s AI Agents Now Handle Tasks While You Relax
Meta offers cash and expert help to startups building with Llama AI
OpenAI Bets Big on Hardware With Acquisition of Jony Ive’s Startup
Play Pitfall and MechWarrior on Game Pass’s New Retro Library
Friday, May 23, 2025
The Tech BasicThe Tech Basic
Font ResizerAa
Search
  • News
  • PC & Hardware
  • Mobiles
  • Gaming
  • Electronics
  • Gadget
  • Reviews
  • How To
Follow US
Capture
The Tech Basic > News > “PayPal” enters the cryptocurrency market and will soon offer transactions with “PayPal USD”
News

“PayPal” enters the cryptocurrency market and will soon offer transactions with “PayPal USD”

Jiayi Mingze
Last updated: 9 September 2023 14:34
Jiayi Mingze
Share
Capture
SHARE

American fintech company “PayPal,” at the beginning of the week, on August 7th, announced that it is taking a significant step in the field of cryptocurrencies and has launched its payment instrument called “PayPal USD” (PYUSD). As the name suggests, this cryptocurrency is pegged to the US dollar and falls under the category of stablecoins (cryptocurrencies whose value is pegged to an external asset, such as government-issued currency or gold, in this case, the US dollar). “PayPal USD” will be issued by “Paxos Trust Co” and will be intended for making digital payments as well as transactions within the “Web3” environment.

Is it Paypal Coin or Paypal USD?

There were previous rumors that “PayPal” might release its cryptocurrency called “PayPal Coin.” Although the name is slightly different, the direction of the rumors was accurate. The company informs that “PayPal USD” will soon be available for purchase both in the company’s app and web version. Users will be able to perform all the typical cryptocurrency operations with it – buy, sell, hold, transfer, and exchange for other cryptocurrencies. The company claims that a bit later, “PayPal USD” can be used as a means of payment for various purchases, including within the “Web3” environment.

PayPal
Source: PayPal

By launching “PayPal USD,” the company could accelerate its efforts to become a cryptocurrency payment giant. The company has been working towards this goal since 2020 when it started offering transactions with cryptocurrencies. Currently, users in the US and the UK can engage in transactions involving “Bitcoin” and other popular cryptocurrencies. It’s worth noting that currently, “PayPal” services are used by more than 350 million active customers.

Please follow us for more latest Tech News at TheTechBasic.

TAGGED:MetaMobile Apps
Share This Article
Facebook Reddit Copy Link Print
Share
Jiayi Mingze
By Jiayi Mingze
Follow:
Jiayi Mingze is blog writer who specializes in latest innovations in sound and headphones. She works for an IT firm and also writes for technology blogs. She started her writing career from newspapers. She is ambitious and hardworking woman who believes in excellence and intellect.

Let's Connect

FacebookLike
XFollow
PinterestPin
InstagramFollow
Google NewsFollow
FlipboardFollow

Popular Posts

PlayStation Stars

PlayStation Stars Program Ends Sony Promises New Loyalty Plans

S.Dyema Zandria
Google AI

Google’s AI Agents Now Handle Tasks While You Relax

S.Dyema Zandria
Meta

Meta offers cash and expert help to startups building with Llama AI

S.Dyema Zandria
OpenAI

OpenAI Bets Big on Hardware With Acquisition of Jony Ive’s Startup

S.Dyema Zandria

You Might Also Like

Meta
News

Meta Delays Giant AI Model Behemoth Due to Tech Challenges

Meta
News

Meta Teases Auto-Regressive Scene Generation After AssetGen 2.0

Meta
News

Meta’s New Tool Helps Advertisers Make Better Ads Easily

Apple
News

New US Bill Could Force Apple to Allow Competing App Stores

Social Networks

Facebook-f Twitter Instagram Pinterest Rss

Company

  • About Us
  • Our Team
  • Contact Us

Policies

  • Disclaimer
  • Privacy Policy
  • Cookies Policy
Latest
Play Pitfall and MechWarrior on Game Pass’s New Retro Library
iPhone 7 Plus and iPhone 8 Now Declared Vintage by Apple
Google AI Mode Launches in US with Easy Search and Shopping Tools
PlayStation Plus Subscribers Lose Six Popular Titles in June 2025 Update
Fortnite Is Back on iPhone App Store with New Star Wars Season

© 2024 The Tech Basic INC. 700 – 2 Park Avenue New York, NY.

TTB White LOGO TB
Follow US
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?