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PayPal launches PYUSD stablecoin for payment
(cointelegraph.com)
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this post was submitted on 08 Aug 2023
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Yes, that is what it looks like to me.
The thing is... it would take such a small modification to this system to change the world. If PayPal were to implement this such that the PayPal payment can be made by transferring the crypto into the seller's account directly and anonymously without the buyer having a PayPal Balance account, and then PayPal is willing to exchange the seller's PYUSD for fiat directly on the site, this would be such a significant step in the crypto revolution.