PayPal to use PYUSD stablecoin for AI infrastructure financing

PayPal is utilizing its PYUSD stablecoin to finance artificial intelligence infrastructure by supporting on-chain funding for USD.AI, CoinDesk reported. To encourage adoption of the stablecoin, PayPal and the USD.AI Foundation plan to launch a one-year customer incentive program starting in early January. The initiative will offer 4.5% interest on deposits of up to $1 billion.