Paypal plans to expand PYUSD stablecoin to the Arbitrum network

According to a report by Jinse Finance, the latest PYUSD stablecoin service terms reveal that PayPal plans to expand the PYUSD stablecoin to the Arbitrum network. Issued by Paxos, PYUSD is pegged to the US dollar at a 1:1 ratio and is fully backed by US dollar deposits, US Treasury bonds, and US Treasury repurchase agreements. PayPal has also launched a PYUSD rewards program, allowing eligible users to earn returns based on their holdings.