PayPal’s bringing its U.S. dollar-backed stablecoin, PYUSD, to the Stellar blockchain—just waiting on the final approval from New York’s financial regulator. PYUSD is already live on Ethereum and Solana, but this next step is all about making it more useful in the real world, especially for faster, cheaper cross-border payments
PayPal just got a significant win in the world of digital finance. On April 29, the company revealed in a regulatory filing that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into its U.S. dollar-backed stablecoin, PYUSD. The agency said it doesn’t plan to take any enforcement
Coinbase announced on April 24 that it has widened its partnership with PayPal to strengthen the impact of PayPal USD (PYUSD). The exchange has plans to strengthen the stablecoin infrastructure and accessibility. Coinbase has also committed to back effortless and no-cost conversions between PYUSD and USD. The partnership will permit
PayPal is stepping forward in terms of its stablecoin development and adoption with a new announcement. It is planning to offer a 3.7% annual return on its PYUSD stablecoin balance to its users. The yield accumulates daily, and users will receive it on a monthly basis. Payment platform PayPal seems
Stablecoins have been gaining much traction ever since Trump won US elections in 2024. White AI & Crypto Czar David Sacks highlighted the potential of stablecoins multiple times publicly. He even stated stablecoins are a better option compared to CBDCs and they can help extend the dollar’s dominance across the
The cryptocurrency market has seen a spur of activity in the last 24 hours. While the Uptober bull run has not begun yet, prices have declined. Meanwhile, cryptocurrency firm Ripple has reaffirmed its vow to battle with the SEC. Amid traders’ significant losses and partnerships, as aforementioned, the sector showed
The cryptocurrency market is mired in neutral sentiment, with only little rebounds sprinkled. The market leader in cryptocurrencies, Bitcoin, has increased its value by about 2% since yesterday, eyeing the $60,000 mark. Nevertheless, today’s main attraction is Paypal USD (PYUSD. A dollar-pegged token that has seen tremendous growth in recent
PayPal’s U.S. dollar-pegged stablecoin, PYUSD, has seen significant expansion since its inception, with its supply on Solana now exceeding that on Ethereum. In August 2023, PYUSD launched on Ethereum in partnership with custodian Paxos, and its initial supply grew to $230 million by the end of the year. Due to
Launched via a cooperation with custodian company Paxos in August 2023, PayPal’s USD-pegged stablecoin PYUSD has had its market supply surpass 500 million tokens. By the end of 2023, PYUSD’s supply had grown to 230 million after its launch. According to statistics compiled by DeFiLlama, the total quantity of stablecoins
Users may now fund international Xoom transfers using PayPal USD (PYUSD), the company’s dedicated stablecoin linked to the U.S dollar. This is a new feature that Xoom, a PayPal cross-border money transfer service, has introduced. Xoom customers in the US will not be charged any transaction fees by PayPal when
