This episode discesses PayPal USD (PYUSD), a new US dollar-backed stablecoin from PayPal. PYUSD can be bought, sold, held and transferred via the PayPal app and website, offers fee-free transfers to US PayPal friends and enables payments at millions of online merchants. The stablecoin is built on Ethereum and Solana and is programmable for developers. PayPal emphasizes transparency through regular reports on the collateral.