Tags: PayPal USD

PayPal’s proposed NFT purchase and transfer system would handle fractionalization, DAOs and royalties through a third-party provider.

PayPal launched its U.S. dollar-backed, Ethereum-built stablecoin in August 2023.

The total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4 million as of Aug. 31, Paxos report states.

PayPal‘s stablecoin debut raised hopes for broader adoption and an introduction of cryptocurrencies to the masses. Early adoption trends paint a different picture.