PayPal USD Officially Launches on Polygon Chain

On July 9, Paxos announced that PayPal USD (PYUSD) has officially been natively issued on the Polygon chain and is providing services to the market through the Polygon Open Money Stack. This move aims to offer on-chain dollar settlement solutions for institutions and enterprises under federal regulation, covering deposit, withdrawal, and compliance functionalities. The Polygon chain currently has an average daily stablecoin settlement amount exceeding $2.5 billion, with a total settlement amount exceeding $2.6 trillion. PYUSD is issued by Paxos, a national trust chartered institution regulated by the Office of the Comptroller of the Currency (OCC).

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