Venmo, PayPal’s social payment platform, will list PayPal’s US dollar stable currency PYUSD. PayPal noted in a press release that PayPal’s ERC-20 stablecoin will be available for purchase “in the coming weeks,” and users will be able to purchase PYUSD and send it to others through PayPal, Venmo, or a compatible external wallet.
It is reported that Venmo is a subsidiary of payment giant PayPal, which launched PYUSD in partnership with encryption infrastructure company Paxos on August 7. Nearly a month later, PayPal added a cryptocurrency exchange service for U.S. dollars on September 11, allowing users to exchange digital currencies for U.S. dollar fiat currency.
