News Explorer — PayPal's Newly Launched PYUSD Stablecoin Has Seen Low Adoption

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Aug 28, 6:27 am

Unchained Crypto

PayPal's Newly Launched PYUSD Stablecoin Has Seen Low Adoption

PayPal's new stablecoin PYUSD has not gained much traction since its launch, with only a small number of people using and holding it in self-custody wallets. Smart money holders and centralized exchanges are also avoiding the stablecoin, with Paxos still holding 90% of its supply in custody. Additionally, there are limited ways to earn interest on PYUSD, which may contribute to the lack of enthusiasm for the token.

PayPal's new stablecoin PYUSD has not gained much traction since its launch, with only a small number of people using and holding it in self-custody wallets. Smart money holders and centralized exchanges are also avoiding the stablecoin, with Paxos still holding 90% of its supply in custody. Additionally, there are limited ways to earn interest on PYUSD, which may contribute to the lack of enthusiasm for the token.

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