PayPal, the largest pay processor in the US, has announced that the stable PYUSD coin is now available on Venmo.Pay September 20, the payment company reported in a blog post that PayPal USD (PYUSD), a stable coin pegged to the company's US dollar, is already available to Venmo users and will be fully rolled out in the coming weeks. The news comes about six weeks after PayPal announced the launch of the stablecoin, saying at the time that it would be issued to Paxos Trust and fully secured with US dollar deposits, short-term government bonds and similar cash equivalents.PYUSD is already available in the local cryptocurrency and is becoming increasingly popular, as the ecosystem grows, it can be widely used, PayPal said. In the weeks since its launch on the open Sunday, PYUSD has already been available on separate exchanges, including Crypto.com Bitstamp, Coinbase and Kraken.PayPal USD, released by Paxos, has been made available on @Venmo for select users and will be fully released in the coming weeks!@ PayPal opens up the future of USD currency movement. Read more here: https://t.co/qgDagf5kB5 pic.twitter.com/9yEszDNJQGRelated PayPal's new stable coin PYUSD is facing legal hurdles and less functionality, blockchain analyst firm Nansen reported in August that about 90% of PYUSD is in portfolios controlled by Paxos Trust. Crypto company BitPay announced on September 12 that it will add support for PYUSD, citing public services and community engagement.Paid Pay is steadily entering the crypto space by accepting digital asset payments in 2021 and establishing established and deactivated Web3 payment platforms in 2023. The New York State Department of Financial Services has included PYUSD in the list of green currencies approved by the regulator. Magazine: Deposit risk: What are crypto exchanges really doing to your money?