Just this week, payments giant PayPal (PYPL) said it was entering the crypto market with its own dollar-pegged stablecoin, PayPal USD (PYUSD). This is a first for a major financial company. The Ethereum-based token will be available first on PayPal and then on Venmo, and can be exchanged for dollars at any time.
Branded Stablecoins Like PYUSD to Proliferate as Market Expands: Bernstein
