PayPal Introduces PayPal USD: The First U.S. Dollar-Backed Stablecoin
PayPal, the renowned online payments service, has made a groundbreaking move by becoming the first major U.S. financial company to launch its very own U.S. dollar-backed stablecoin. Unlike other cryptocurrencies, which derive their value from the fluctuating demands of crypto traders, stablecoins are typically backed by physical assets, such as precious metals or fiat currencies, which help maintain a consistent value.
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