PayPal updated its cryptocurrency terms of service on July 16, 2025, explicitly supporting the issuance and use of the PYUSD stablecoin on the Arbitrum network. PYUSD is issued by Paxos and is fully backed by U.S. dollars, U.S. Treasury bonds, and other highly liquid assets as reserves, with a fixed price of $1. Users can buy, sell, convert, or send PYUSD through the PayPal cryptocurrency center, but must select the correct supported blockchain network (including Arbitrum, Ethereum, and Solana). [Odaily Planet Daily]