PayPal has updated its terms of use to indicate the addition of support for its stablecoin PYUSD on the Arbitrum network, opening new possibilities for users.
Arbitrum Support in Terms of Use
On July 16, PayPal updated its terms of use by adding support for PYUSD for users on Arbitrum. Previously, the stablecoin was operational on Ethereum and Solana. Now, with this update, Arbitrum users will be able to conduct transactions using PYUSD.
Transition to Arbitrum from Paxos
PYUSD was launched on Ethereum in August 2023. PayPal CEO Dan Schulman emphasized that stablecoins play an important role in providing stable value in cryptocurrency payments. In May 2024, PYUSD was integrated with Solana, and in September, Paxos moved its tokenization platform to Arbitrum.
Future of PYUSD and Arbitrum
While PayPal has not announced specific limitations for PYUSD transactions on Arbitrum, the updates to the structure and tables related to transactions confirm the integration. This news suggests that the use of PYUSD will expand within the Arbitrum ecosystem and other platforms.
The addition of PYUSD support on Arbitrum signifies the ongoing development of PayPal's services, allowing users to extend the utility of the stablecoin within the cryptocurrency ecosystem.
