cryptonews.net
In an effort to accelerate the adoption of PayPal USD (PYUSD), a US dollar-backed stablecoin issued by Paxos, Chainlink has introduced Chainlink Price Feeds for PYUSD on Ethereum. The integration aims to provide market data for PYUSD on the blockchain, facilitating its adoption for on-chain transactions.
By integrating Chainlink Price Feeds, Paxos and Chainlink aim to expand the adoption of tokenized real assets and scale on-chain finance globally. Chainlink infrastructure strives to ensure the integrity of PYUSD data on the chain. By sourcing data from aggregators and leveraging blockchain node operators, Chainlink Price Feeds offers the market data needed to create fast markets and increase liquidity in the DeFi space, the company said in a statement released by Paxos.
Chainlink is a decentralized computing platform that makes real data easier to access. It provides DeFi projects with data and security, driving the adoption of PYUSD and other tokenized assets. Last year, PayPal launched PYUSD to facilitate cryptocurrency payments. This digital asset aims to provide users with a stable instrument in the volatile cryptocurrency market.
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