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News Explorer — PayPal Stablecoin Imposter Tokens Using the PYUSD Ticker Are Trading on Uniswap

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Aug 7, 8:47 pm

Decrypt

PayPal Stablecoin Imposter Tokens Using the PYUSD Ticker Are Trading on Uniswap

Imposter tokens using the PYUSD ticker have appeared on Uniswap, taking advantage of the hype around PayPal's newly announced ERC20 stablecoin. PayPal confirmed the real contract address for PayPal USD via Etherscan. While PayPal stated that PYUSD would only be available through their platform, it is possible that the stablecoin could find its way onto decentralized exchanges in the future.

Imposter tokens using the PYUSD ticker have appeared on Uniswap, taking advantage of the hype around PayPal's newly announced ERC20 stablecoin. PayPal confirmed the real contract address for PayPal USD via Etherscan. While PayPal stated that PYUSD would only be available through their platform, it is possible that the stablecoin could find its way onto decentralized exchanges in the future.

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