Stablecoins have emerged as a bridge between traditional finance and the decentralized world of cryptocurrencies. Among the latest entrants in this space is PYUSD, a product of the global online payments giant PayPal. Launched on 7 August 2023, PYUSD is the result of a strategic collaboration between PayPal and Paxos Trust Limited. This partnership signifies … Read more
getty PayPal’s branded stablecoin, which the payments company launched on Monday, is likely to be a trendsetter. Multiple payments, e-commerce companies and banks, including large traditional financial institutions, have expressed interest in using or issuing digital dollars with Paxos, the issuer of PayPal’s PYPL PYUSD, according to a source familiar with the negotiations. No names … Read more
PayPal Holdings Inc. is rolling out a stablecoin, the first by a large financial company and a potentially significant boost to the sluggish adoption of digital tokens for payments. PayPal USD (PYUSD) is issued by Paxos Trust Co. and fully backed by US dollar deposits, short-term Treasuries and similar cash equivalents, the San Jose, California-based … Read more