Odaily Planet Daily News: McHenry, Chairman of the U.S. House Financial Services Committee, said that PayPal's stablecoin shows hope for bipartisan bills. (Jinshi) According to previous reports, PayPal announced the launch of the U.S. dollar stablecoin PayPal USD (PYUSD) for transfers and payments. The stablecoin is issued by Paxos Trust Co. and is backed by U.S. dollars, short-term government bonds and cash equivalents. PYUSD will gradually be open to PayPal's customers in the United States.