News, July 16th, according to the latest released PYUSD stablecoin terms of service, Paypal plans to expand the PYUSD stablecoin to the Arbitrum chain (previously launched on the Ethereum and Solana networks).

PYUSD, issued by Paxos, has a fixed price of 1 US dollar, fully backed by US dollar deposits, US Treasury bonds, and US Treasury repurchase agreements. PayPal is also introducing a PYUSD reward program, allowing eligible users to earn rewards based on their holdings.