According to an official announcement, Web3 payments infrastructure provider Transak has listed PayPal's stablecoin, PayPal USD (PYUSD), on its platform. This integration enables users to buy PYUSD using a variety of local payment methods, simplifying the transition from fiat to digital assets and providing a trusted gateway into decentralized finance (DeFi).
PYUSD Goes Live on Transak: Lowering Barriers to DeFi
Sami Start, CEO of Transak, emphasized that PYUSD offers a reliable gateway for traders entering DeFi. “PayPal’s strong brand reputation combined with PYUSD’s regulatory compliance makes it a safe first step into crypto,” Start said. He believes the move will accelerate mainstream cryptocurrency adoption by reducing friction for new users.
PYUSD is issued by Paxos Trust Company, a fully fiat-backed stablecoin that is 100% collateralized by U.S. dollar deposits, U.S. Treasuries, and equivalent cash reserves. The token can be purchased or sold on PayPal and Venmo at a fixed rate of $1 per PYUSD. All Paxos products, including PYUSD, are regulated by the New York State Department of Financial Services (NYDFS), ensuring compliance and transparency.
Industry Perspective: Stablecoins and Blockchain as the Future of Finance
Nick Robnett, Head of Asset Growth at Paxos, told Bitcoin.com News: “Integrating PYUSD on Transak is a step toward meeting evolving consumer needs by providing expanded financial choices. Stablecoins and blockchain technology are the future of finance – and this is a great opportunity to safely introduce this technology to users.”
With this integration, users do not need to hold a crypto account beforehand; they can directly buy PYUSD using fiat via supported local payment methods such as bank transfers or e-wallets. PYUSD can then be used to participate in DeFi protocols, make cross-border payments, or simply store value. Analysts note that PayPal, serving hundreds of millions of users globally, bringing its stablecoin onto a Web3 infrastructure like Transak further bridges traditional finance and decentralized ecosystems.
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