_x000D_Image: Paypal

In the crypto world, what are stablecoins?

Stablecoins are a type of digital currency gaining prominence in recent years, with companies like PayPal diving into the mix as of August 7, 2023. Stablecoins are designed to minimize volatility associated with cryptocurrencies like Bitcoin. They achieve this stability by anchoring themselves to a “>stable”> reserve asset, such as the US dollar or gold. US PayPal customers can now transfer Paypal’s stablecoin, PYUSD, which equals $1 (US). They can also convert other supported cryptocurrencies to and from PYUSD.