What are PYUSDs? How do I know these are safe

PayPal USD (PYUSD) is a U.S. dollar–denominated stablecoin issued by PayPal. It is designed to always maintain a value of 1 PYUSD = 1 USD, making it a reliable digital currency for payments, transfers, and trading on crypto platforms like ours.

How do I know PYUSD is safe?

• Backed 1:1 by U.S. dollar reserves: Every PYUSD token is backed by cash deposits and short-term U.S. Treasuries.
• Issued by a regulated company: PayPal is a licensed and well-established financial company. Its stablecoin is managed by Paxos Trust Company, a regulated financial institution.
• Regular attestations: Independent third-party audits are published monthly to confirm that PYUSD reserves match the tokens in circulation.
• Price stability: Unlike other cryptocurrencies that fluctuate in value, PYUSD is designed to remain equal to the U.S. dollar.

With these safeguards, PYUSD offers the stability of the U.S. dollar and the flexibility of crypto, making it a secure option for deposits and transactions on our platform.