Stablecoin

Reserve

Read

PayPal has announced the launch of a US dollar-pegged stablecoin. 
Leading payments giant PayPal has taken another step into the crypto sector by launching a dollar-pegged stablecoin. According to a <a href="https://www.prnewswire.com/news-releases/paypal-launches-us-dollar-stablecoin-301894262.html" rel="noopener noreferrer nofollow">press release </a> today, the stablecoin is backed by short-term US Treasuries, US dollar deposits, and cash equivalents. 
Dubbed PayPal USD, the stablecoin will be issued by Paxos Trust Co. Notably, Paxos will publish a monthly Reserve report for the stablecoin from September 2023. 
Furthermore, Paxos will also issue a public third-party attestation of the stablecoin’s reserve assets. 
<h2 id="span-style-font-weight-400-paypal-usd-to-work-with-other-offerings-span">PayPal USD to Work With Other Offerings </h2> 
PayPal USD is expected to work alongside the company’s other cryptocurrency <a href="https://thecryptobasic.com/2022/06/07/paypal-users-can-now-send-bitcoin-btc-and-ethereum-eth-to-external-wallets/" rel="noopener noreferrer nofollow">offerings </a>. Per the announcement, users can transfer the stablecoin from their PayPal accounts to other external wallets. 
In addition, users can also swap the dollar-denominated stablecoin for cash or other supported crypto assets. Furthermore, users can make purchases using PayPal USD. The stablecoin will be redeemable 1:1 for US dollars. 
<h2 id="span-style-font-weight-400-paypal-ceo-reacts-span">PayPal CEO Reacts </h2> 
Commenting on the development, PayPal’s CEO Dan Schulman noted that the shift towards digital currencies requires a stable instrument that is digitally native and easily connected to fiats, like the US dollar. 
... 
<a href="https://thecryptobasic.com/2023/08/07/paypal-launches-dollar-pegged-stablecoin-for-payments/" rel="noopener noreferrer nofollow">Read more</a>

PayPal Launches Dollar-Pegged Stablecoin For Payments

Mục lục

TheCryptoBasic

Các bài viết khác được xuất bản trên 7 thg 8, 2023

McHenry’s Call for Stablecoin Regulation Gains Momentum Amid PayPal’s Entry

Will the Launch of PayPal’s Stablecoin Affect USDT Negatively? Tether CTO Speaks

Market Analyst Predicts ‘Full Bull’ Phase for Bitcoin (BTC) as Whales Accumulate

Shiba Inu Membentuk Reli, Ini Alasannya

The FBI Warns Crypto Scammers Are Posing as NFT Developers

COIN Price Analysis: After Bullish Trend COIN Stock Sliding Down

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!