PayPal Digital Currencies company
Overview
The digital currencies division of PayPal encompasses its cryptocurrency offerings, prominently featuring PayPal USD (PYUSD), a stablecoin pegged to the US dollar that debuted in August 2023. Issued by Paxos Trust Company, the token operates under the supervision of the New York State Department of Financial Services. Its reserves comprise dollar deposits, short-term US Treasury securities, and cash equivalents. Initially deployed as an ERC-20 token on Ethereum, PYUSD subsequently became available on Solana and through native issuance on Polygon. Additionally, PayPal provides functionality for users to purchase, custody, and transfer digital assets within its wallet interface, along with yield-bearing rewards on PYUSD holdings.
Within The Counterparty graph, PayPal Digital Currencies connects to 1 tracked entity, most strongly to New York State Department of Financial Services.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
regulated_by | New York State Department of Financial Services | 90% |
Frequently asked questions
What is PayPal Digital Currencies?
PayPal Digital Currencies is a crypto-bank tracked in The Counterparty knowledge graph. It is connected to 1 other tracked entity, most strongly to New York State Department of Financial Services.
What type of entity is PayPal Digital Currencies?
PayPal Digital Currencies is classified as a crypto-bank (company) in The Counterparty knowledge graph.
What is PayPal Digital Currencies connected to?
In The Counterparty knowledge graph, PayPal Digital Currencies is linked to 1 other tracked entity, most strongly to New York State Department of Financial Services.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.