Paxos Mints and Burns $300 Trillion PYUSD on Ethereum

Fintech giant PayPal made an interesting move today, minting $300 trillion of its PYUSD stablecoin on the Ethereum blockchain, briefly making it the largest stablecoin in the world by a landslide.

Paxos, which issues PYUSD, minted the supply on Wednesday afternoon and burned it shortly after, confirming it was an accidental mint.

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