CoinWorld reported on July 16 that PayPal updated its cryptocurrency service terms on July 16, 2025, explicitly supporting the issuance and use of the PYUSD stablecoin on the Arbitrum network. PYUSD is issued by Paxos and is fully backed by reserves of US dollars, US Treasury bonds, and other highly liquid assets, with a fixed price of 1 US dollar. Users can buy, sell, convert, or send PYUSD through the PayPal cryptocurrency center, but they must select the correct supported blockchain network (including Arbitrum, Ethereum, and Solana).