PayPal plans to expand the PYUSD stablecoin to the Arbitrum chain and launch a token rewards program

ChainCatcher message, according to the latest published service terms for the PYUSD stablecoin, PayPal plans to expand the PYUSD stablecoin to the Arbitrum chain (which has already been launched on the Ethereum and Solana networks).

PYUSD is issued by Paxos, pegged to 1 dollar, and fully backed by dollar deposits, U.S. Treasury securities, and U.S. Treasury repurchase agreements. PayPal is also launching a PYUSD rewards program that allows eligible users to earn rewards based on their holdings.