Crypto
PayPal Launches Custom Stablecoin Platform for Businesses
The PYUSDx platform is not a single stablecoin, but rather an issuance framework that lets other companies build their own dollar-pegged tokens on top of PayPal's existing infrastructure. Through the platform, businesses can issue application-specific tokens backed by PayPal USD while customizing names, access restrictions, reward distribution, collateral policies and cross-chain availability.
The three initial projects, Saturn, Concrete, and Cap, have collectively processed over $100 million in transaction volume. However, it's worth noting that this figure reflects activity, not market cap or revenue.