PayPal USD (PYUSD) is now available on Venmo

**PayPal USD (PYUSD), PayPal’s on-chain, regulated, dollar-denominated stablecoin 100% backed by U.S. dollar deposits, short-term U.S Treasuries, and similar cash equivalents, is available on Venmo starting today. Consistent with that mission, we are pleased today to announce that PayPal USD is now available on Venmo to select users and will be rolling out fully in the coming weeks. Venmo users are able to purchase PYUSD and send it to friends and family on PayPal, Venmo, and compatible external wallets. Individuals using compatible external wallets, and merchants accepting payments in PYUSD, will also be able to receive transfers from Venmo users. In addition to the increased availability and distribution in these first few weeks, PayPal USD has been greenlisted by the New York State Department of Financial Services, making it easier for virtual currency entities licensed in New York to support PYUSD.