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PayPal plans to expand the PYUSD stablecoin to the Arbitrum chain and launch a rewards program.
On July 16, according to the latest announced service terms for the PYUSD stablecoin, Paypal plans to expand the PYUSD stablecoin to the Arbitrum chain (which has already been launched on the Ethereum and Solana networks).
PYUSD is issued by Paxos, pegged to 1 USD, and fully backed by USD deposits, US government bonds, and US treasury repurchase agreements. PayPal has also launched the PYUSD rewards program, allowing eligible users to earn rewards based on their holdings.