Tag: PYUSD

  • Paxos’ $300 Trillion Blunder Puts Stablecoin Industry Under Scrutiny

    Paxos’ $300 Trillion Blunder Puts Stablecoin Industry Under Scrutiny

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    Yashika Gupta

    The New York Department of Financial Services (NYDFS) has confirmed that Paxos, the regulated issuer behind PayPal USD (PYUSD), accidentally minted an eye-watering $300 trillion worth of unbacked stablecoins on 15 October 2025.The incident, which briefly expanded PYUSD’s supply to exceed the size of the global economy, sent shockwaves through both traditional finance and the…

  • PayPal Shakes Up Stablecoin Market with PYUSD Rewards

    PayPal Shakes Up Stablecoin Market with PYUSD Rewards

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    Oscar

    PayPal is making waves in the stablecoin sector by offering 3.7% annual interest rewards for holders of its PYUSD stablecoin. The initiative, announced on April 23, is set to launch this summer, marking a significant step in integrating digital assets into everyday financial activities. Introducing PYUSD Rewards PYUSD, launched in 2023, is a US dollar-backed…