An update on PayPal's website revealed the launch of its stablecoin PYUSD on the Arbitrum network. Although the company has not made a public announcement, it has revised its cryptocurrency service terms: the list of supported networks now includes Ethereum, Solana, and Arbitrum.
Update Spotted in the User Agreement
The “PYUSD Stablecoin” section in PayPal’s terms of use now explicitly states that the token is available on three networks: “PYUSD is issued by Paxos, not PayPal, on the Ethereum, Solana, and Arbitrum blockchains.” The update is dated July 16. The previous version from July 11, which is archived on the Wayback Machine, did not mention Arbitrum.
Additionally, the section related to transaction limits has also been updated. It now includes data on PYUSD in the Arbitrum network. The company has not yet commented on these changes.
The Development of PYUSD
PYUSD was launched in August 2023 on the Ethereum network with support from Paxos. The stablecoin is fully backed by U.S. dollar reserves, short-term U.S. treasuries, and other liquid equivalents. According to PayPal CEO Dan Schulman, the goal of the project is to create a dollar-linked digital tool suitable for transactions in the digital economy.
In May 2024, PYUSD was introduced on the Solana network. This move was part of a broader strategy to expand the stablecoin’s use in commerce and payment solutions.
Paxos and Infrastructure in Arbitrum
Paxos, the issuer of PYUSD, announced its integration with the Arbitrum network back in September 2024. At the time, the company outlined plans to migrate its tokenization platform to this Ethereum layer 2 solution.
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