According to the latest published PYUSD stablecoin service terms, PayPal plans to expand the PYUSD stablecoin to the Arbitrum chain (previously launched on Ethereum and Solana networks).
PYUSD, issued by Paxos, is pegged at 1 US dollar and fully backed by US dollar deposits, US Treasury bonds, and US Treasury repurchase agreements. PayPal has simultaneously launched a PYUSD rewards program, allowing eligible users to receive rewards based on their holdings.
