The PayPal stablecoin PYUSD is now available for purchase on MoonPay in all supported countries

PayPal USD is now available for purchase on MoonPay through all main payment methods in all supported countries, with the exception of Canada.

MoonPay is now facilitating the use of PayPal USD, the dollar-denominated stablecoin issued by Paxos Trust Company, within the online payments system.

PYUSD is now available for purchase on MoonPay through all main payment methods in all supported countries, with the exception of Canada.

MoonPay has recently announced its support for PYUSD, following the two companies’ strategic integration in May 2024. This integration will enable MoonPay users to purchase and sell cryptocurrency using their PayPal accounts.

PYUSD is a stablecoin that is payments-focused and dollar-redeemable. It is purportedly supported by 100% U.S. dollar deposits, short-term U.S. Treasuries, and comparable currency equivalents. Fintech heavyweights Robinhood and Revolut are reportedly interested in following suit, as it was one of the first consumer-facing stablecoins launched by a significant financial services company.

PayPal has been interested in gaining market share among significant fintech companies that operate in the digital assets sector for a long time. PayPal announced late last month that it intends to facilitate the purchase, sale, storage, and transmission of cryptocurrencies for business customers in the United States.

The market capitalization of PayPal’s stablecoin surpassed $1 billion in August; however, it has since declined to approximately $705 million, as per DefiLlama. The supply of PYUSD on the network surpassed that of the rival blockchain Ethereum after the expansion to Solana. Nevertheless, the PYUSD supply on Solana has retreated below the total supply on Ethereum.

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