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PayPal's stablecoin PYUSD is gaining prominence in the stablecoin market since its release in August 2023. Issued by Paxos, PYUSD emphasizes regulatory-backed issuance and aims to bridge blockchain and fiat payments. Its growth underscores PayPal's push into digital payments and highlights the evolving role of regulated stablecoins in DeFi and cross-border transactions. Despite strong growth, PYUSD still trails USDT and USDC.

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