PayPal USD officially launched on the Polygon chain

According to official news, Paxos announced that PayPal USD (PYUSD) is officially natively issued on the Polygon chain and provides services to the market through the Polygon "Open Money Stack."

This move aims to provide on-chain dollar settlement solutions for institutions and enterprises under federal regulation, covering deposit, withdrawal, and compliance functions. The Polygon chain currently has a daily average stablecoin settlement amount exceeding $2.5 billion, with a total settlement amount exceeding $2.6 trillion. PYUSD is issued by Paxos, a national trust chartered institution regulated by the Office of the Comptroller of the Currency (OCC).