Paxos has announced that PayPal USD (PYUSD) is now accessible on Crypto.com Pay. The purpose of PayPal USD, which is issued by Paxos Trust Company, is to facilitate the use of a digital currency with a consistent value that is specifically designed for commerce and payments.
It was created with the intention of introducing a digital currency that would maintain a balanced value and be used for business transactions and payments.
The introduction will aid in fostering connectivity and highlighting the useful aspects of PYUSD for the wider community associated with Crypto.com. The “pay your friends” feature will allow you to transfer PYUSD to known individuals.
This will include purchasing gift items from over 100 companies, shopping on the Crypto.com application, and recharging prepaid handsets using global Airtime. There will also be a surge in product and cryptocurrency purchases on all platforms that have integrated Crypto.com. Users will be able to use PYUSD as a checkout service.
Joe Anzures, General Manager of the Americas and Global Head of Payments at Crypto.com, Edwin Aoki, Chief Technology Officer of Blockchain, Crypto, and Digital Currencies at PayPal, and Ronak Daya, Head of Product at Paxos, held a live Ask Me Anything (AMA) to celebrate the announcement. Among other things, they discussed PYUSD and the exciting new feature in Crypto.com Pay.
