PayPal launches US dollar stablecoin
PayPal introduced the launch of PayPal USD on August 7, a stablecoin that it says is backed by US {dollars}, short-term US Treasuries and “comparable money equivalents”.
In addition to transfers and funds, US prospects will have the ability to “convert any of PayPal’s supported cryptocurrencies to and from PayPal USD”, the funds agency mentioned in a press launch. Pay Pal has 435 million energetic accounts.
Dan Schulman, president and CEO of PayPal, claimed there’s now a “shift in direction of digital currencies” that
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