Deniz 
Now supporting PayPal USD (PYUSD), the dollar-denominated stablecoin produced by Paxos Trust Company is MoonPay. Except for Canada, can now be bought on MoonPay using all accepted currencies and all main payment options.
Following the two firms revelation of a strategic merger in May 2024 allowing MoonPay customers to buy and trade crypto using their PayPal accounts, MoonPay’s support of PYUSD follows.
Reportedly supported 100% by U.S. dollar deposits, short-term U.S. Treasury bonds, and similar cash equivalents, PYUSD is a dollar-redeemable, payments-oriented stablecoin. One of the first stablecoins aimed at consumers released by a big financial services provider, fintech behemoths Robinhood and Revolut apparently want to follow suit.
PayPal has long been keen on gaining market share among notable fintech startups engaged in the digital assets sector. PayPal revealed late last month intentions to let American business clients purchase, sell, store, and distribute cryptocurrency.
DefiLlama claims PayPal’s stablecoin decreased to roughly $705 million after exceeding $1 billion in market capitalization in August. Once PYUSD expanded to Solana, its quantity on the network exceeded that of competing blockchain Ethereum. On Solana, the PYUSD supply has dropped back below the Ethereum total nonetheless.
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