Chanlink integrates the PYUSD Chainlink Price Feed on the Ethereum mainnet to expedite the promotion of PayPal's USD-backed stablecoin, PYUSD, developed by Paxos. Through this feed, users access decentralized, precise, and trustworthy market data for PYUSD, powered by Chainlink's Oracle. This empowers users with essential insights into PYUSD market growth, prompting them to choose it as their preferred stablecoin for on-chain transactions.

Paxos introduces PYUSD, a transparent and programmable stablecoin backed by US treasuries, cash equivalents, and dollar deposits. PYUSD can be transferred to Ethereum, where it functions as collateral for DeFi projects and facilitates payments. With the rising popularity of tokenized real world assets (RWAs), Chainlink and Paxos collaborate to bolster on-chain liquidity for global users.

For DeFi applications and users aiming to establish a secure market around less liquid assets, reliable and tamper-proof market data is crucial. Chainlink Price Feeds enable PYUSD to attract initial liquidity, kickstarting ecosystem-wide acceptance while ensuring accurate on-chain PYUSD data. These feeds also enable DeFi protocols to generate significant smart contract value while mitigating risks associated with exchange outages, flash crashes, and data manipulation threats.

Chainlink Price Feeds offer several key features, including high-quality data, secure node operators, decentralization, and transparent upgrade costs and required datasets.

Nick Robnett, Paxos' senior director of Stablecoin Partnerships, highlights the collaboration with Chainlink as pivotal for accelerating the adoption of tokenized real-world assets in various applications, including on-chain payments.

Johann Eid, Chainlink Labs' chief business officer, expresses excitement over introducing the PayPal USD Chainlink pricing Feed, providing Paxos with secure, reliable, and decentralized pricing data crucial for PYUSD acceptance.

Chainlink stands as the standard for web3 platforms, facilitating substantial transaction value by offering real-time data connectivity, off-chain computing, and secure cross-chain interoperability across all blockchains.

Paxos, a leading certified blockchain framework and tokenized platform, underpins a transparent and efficient financial system. Noteworthy multinational firms like PayPal, Interactive Brokers, and MasterCard leverage Paxos' blockchain services.