PayPal launches stablecoin in crypto push

By: Admin

Aug 7 (Reuters) - Payments firm PayPal (PYPL.O) on Monday launched a U.S. dollar stablecoin in a bid to boost the adoption of digital currencies for payments and transfers.

The stablecoin, known as PayPal USD, is backed by U.S. dollar deposits and short-term U.S Treasuries, according to the company.