From the ICO boom to DeFi Summer and even the NFT boom, most activity in crypto has been by and for people already in the space. PayPal's stablecoin, announced this week, is different, says CampbellJAustin. Opinion.
On August 7, 2023, PayPal announced that they were launching PYUSD. In five years, we will look back at this exact moment and realize this was the beginning of the turn in history. Why do I say that?
I’ve called this phenomenon the bad habit of building “more crypto for crypto” elsewhere, but up until this point in time, it is largely what defined the growth and evolution of the industry. This, of course, was true of previous stablecoins, but here is the important difference: that stablecoin now can become a PayPal balance. It can be easily cashed out through traditional rails. It can be kept as the stablecoin itself, knowing others can use these off-ramps. Liquidity increases value, and options increase value.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PayPal’s Regulated Stablecoin Is a ‘Watershed Moment’ in Crypto Space, Says Partner PaxosPaxos head of strategy Walter Hessert states that PayPal's regulated stablecoin, PYUSD, is a significant development in the crypto space as it is the first stablecoin to be overseen by a regulator. Additionally, customers' assets are protected against bankruptcy.
Read more »
SHI Stablecoin Will Be Game-changer, While PayPal Stablecoin PYUSD Is Not: SHIB Team MemberA major member of the Shiba Inu team believes that the upcoming SHI stablecoin will be highly trusted compared to PayPal's PYUSD. The team is currently working on SHI, which has not been released yet, despite false claims on Twitter. Lead developer Shytoshi Kusama clarified that the stablecoin is still in development.
Read more »
US Republican Pushes For Stablecoin Bill After Paypal’s Stablecoin LaunchPatrick T. McHenry, Chair of the House Financial Services Committee, calls for legislation to govern stablecoins following PayPal's launch of its own stablecoin. The Clarity for Payment Stablecoins Act, a legislative framework for payment stablecoins, has been advanced by the House Financial Services Committee. Congress is making bipartisan progress on legislation to secure the US's position in the future financial system.
Read more »
PayPal Launches PYUSD, the First Dollar-Backed Stablecoin from a Major U.S. Financial InstitutionPayPal has introduced PYUSD, a new stablecoin aimed at revolutionizing payments in web3 and digitally native environments. This launch coincides with the anticipation of a crucial stablecoin bill vote in Congress. PYUSD is designed to streamline in-experience payments in virtual settings and enable direct flows to developers.
Read more »
Crypto News Today: PayPal's Stablecoin Debut, Worldcoin's Kenyan Hurdles, and MoreFrom PayPal's entry into the stablecoin market to regulatory challenges faced by Worldcoin in Kenya, the crypto world continues to be a blend of innovation and controversy.
Read more »
PayPal launches dollar-backed stablecoin issued by Paxos: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brent Xu, the founder and CEO at Umee, discusses the price movement of altcoins as regulatory uncertainty has weighed on investors this year. He also provides his outlook for these cryptocurrencies.
Read more »