PayPal’s PYUSD Report Provides Valuable Insight Into The Stablecoin’s Performance So Far

NewsBTC
NewsBTC

19 Sep 2023 8:00 PM

A new report has shown that the adoption of PayPal’s PYUSD stablecoin has seen less than favorable adoption rates since its inception....

  • PayPal's PYUSD stablecoin has experienced slow adoption rates since its launch.
  • The crypto community remains skeptical and prefers competitor stablecoins like USDT and USDC.
  • Despite being listed on exchanges like Coinbase and Huobi Global, PYUSD's daily trade volumes are low.
  • The stablecoin is issued by Paxos Trust Company and backed by $45.3 million in assets.
  • PYUSD's market capitalization is $44 million, indicating subpar adoption.

The sentiment towards PYUSD stablecoin is negative due to its slow adoption rates and competition from established stablecoins.

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What is the adoption rate of PayPal's PYUSD stablecoin?Which stablecoins are preferred by the crypto community over PYUSD?What is the market capitalization of PYUSD?Who issued the PYUSD stablecoin and what assets back it?How has PayPal expanded its cryptocurrency ventures globally?

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