PayPal partners with crypto bank Anchorage Digital to offer stablecoin rewards—despite murky legal rules
When PayPal joined the stablecoin wars in August 2023 with its dollar-backed PYUSD, the crypto industry celebrated the entrance of a TradFi company into a competitive arena dominated by crypto-native firms Tether and Circle. But a year after its launch, PYUSD is still lagging behind its competitors with a market capitalization of less than $1