PayPal USD is a stablecoin called PYUSD that is backed by secure and highly liquid assets. It is designed to contribute to the opportunity stablecoins offer for payments and is 100% backed by U.S. dollar deposits, short-term U.S Treasuries, and similar cash equivalents. PYUSD is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company.

Starting August 7, 2023, eligible U.S. PayPal customers can purchase PayPal USD and enjoy the following benefits:

• Transfer PayPal USD between PayPal and compatible external wallets
• Send person-to-person payments using PYUSD
• Fund purchases with PayPal USD by selecting it at checkout
• Convert any of PayPal's supported cryptocurrencies to and from PayPal USD

For more information, visit https://www.paypal.com/pyusd