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The PYUSD/USD Exchange Rate Launches on the API3 Market

Twitter icon  •  Published 7 months ago on June 5, 2024  •  Hassan Maishera

The AP13 team announced via X on Monday that the PYUSD/USD Exchange Rate is now available on the API3 Market.

The PYUSD/USD Exchange Rate Launches on the API3 Market

The AP13 team announced via X on Monday that the PYUSD/USD Exchange Rate is now available on the API3 Market. $PYUSD is a stablecoin introduced by PayPal designed to make online transactions faster and cheaper. The stablecoin is backed by US dollar deposits, US treasuries, and similar cash equivalents, ensuring each PYUSD is worth one US dollar.

Thanks to this latest development, API3 users can now start using this new data feed to build on-chain products across 31 blockchains. 

API3 is a data oracle that enables APIs to feed data to blockchain applications directly without third-party middlemen. API3 is currently trading at $3.397, up by more than 4% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.