PYUSD 101 Mehak Jethmalani

Mehak (PayPal, PYUSD) explains why PayPal launched a dollar-pegged stablecoin and how it fits the “next generation of payments.” She contrasts legacy rails (ACH/SWIFT delays, banking hours, intermediaries/fees, access barriers) with on-chain settlement that’s fast, interoperable, inclusive, and 24/7. PYUSD is a 1:1 USD stablecoin, 100% reserve-backed, issued by Paxos and regulated by NYDFS. It’s ERC-20, multi-chain, programmable, low-cost to move (chain-dependent), and benefits from PayPal’s compliance stack (e.g., AML/monitoring). Users can buy, redeem, and transfer PYUSD; developers can integrate it across eligible exchanges and supported networks. For ETHGlobal, PayPal’s bounties are intentionally open-ended: prioritize payments-centric ideas (P2P, remittances, B2B, payouts) but creative, responsible uses are welcome (e.g., on-chain rewards, lending/collateral, wrappers/interop, gas-saving flows). She highlights live efforts like remittances (Xoom), B2B payments, crypto payouts/Hyperwallet, and PYUSD rewards (4% in the U.S.). Practical notes from Q&A: PYUSD app access is geo-limited (use exchanges or testnets); only Paxos mints PYUSD; consult docs for reserve details; faucet options include Google Cloud and Paxos (limits apply); don’t submit with a mock token—use real/test PYUSD to show contract-level integration. For submissions, select PayPal as a sponsor and document where/how PYUSD is used. 00:09 Intro, format & goals 01:43 Why crypto at PayPal; pain of legacy rails 03:47 150-year “innovation” timeline (wires→ACH→SWIFT) 05:48 Introducing PYUSD & “decentralized payments” 06:13 Stablecoin basics; PYUSD = 1:1 USD peg 06:44 Next-gen traits: fast, interoperable, inclusive, 24/7 07:15 PYUSD snapshot; where to access 07:39 Key features: reserves, regulation (NYDFS), multi-chain, programmable 08:42 Cost vs other rails; why PYUSD matters 09:13 Hackathon focus & bounties (open-ended, payments-first) 10:24 Resource QR: docs, guides, faucets 10:54 Other PayPal crypto products & use cases 12:27 PYUSD rewards (4%); closing remarks 15:04 Q&A: geo access & testnets 20:02 Q&A: reserves & issuance (Paxos) 20:54 Q&A: faucet limits & options 21:17 Q&A: using PYUSD among pool tokens; sponsor selection 22:39 Q&A: cross-chain payments interest 23:28 Q&A: submission flow (sponsor vs track) 25:15 Q&A: mock token not acceptable; show real/test integration _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 💻 ETHOnline 2025 This workshop is specifically for ETHOnline 2025, a 21-day hackathon held October 10 - 31, 2025, bringing together the most skilled web3 developers, designers and product builders from all around the globe for a weekend-long adventure to advance the Ethereum ecosystem! _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ Follow PayPal USD X: https://x.com/ETHGlobal​ ✅ Follow ETHGlobal X: https://x.com/ETHGlobal​ Warpcast: https://warpcast.com/ethglobal Website: https://ethglobal.com YouTube: https://www.youtube.com/c/ETHGlobal _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _Are you interested in Ethereum development and entrepreneurship?_ 👉 Sign up for the next ETHGlobal event: https://ethglobal.com/events 🎁 Get exclusive access and perks with ETHGlobal Plus! https://ethglobal.com/plus 📣 Want us to throw an event in your city? Tell us where! https://ethglobal.com/city