PayPal Shares First PYUSD Report as Stablecoin Market Fades to $131 Billion

Sep 19, 2023

PayPal's stablecoin PYUSD, despite being positioned as a global payment solution, has struggled to gain adoption. The token's first transparency report revealed that it is backed by $45.3 million in assets, with the majority being reverse repurchase agreements collateralized with US Treasuries. However, PYUSD's market capitalization of $43.4 million pales in comparison to leading stablecoins like USD Coin and Tether, which have market caps of $83 billion and $26 billion respectively.

This article is for informational purposes only. It is not offered or intended to be used as investment or other advice.

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