Arbitrum's ARB Surges After Appearing Among Supported Chains for PayPal's $850M PYUSD Stablecoin

The price of Arbitrum's ARB token increased by 7.7% in the last 24 hours following speculation that PayPal's PYUSD stablecoin might be deployed on the Arbitrum network. Arbitrum was recently listed alongside Ethereum and Solana as a supported blockchain for PYUSD in PayPal's cryptocurrency terms and conditions. PYUSD is issued by Paxos and already available on Ethereum and Solana. Digital trading platform Robinhood also picked Arbitrum to develop and roll out its tokenized equity offering.