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Crypto Biz: PayPal rolls out crypto ramps, Franklin Templeton joins BTC ETF race, and more
15.9.2023
This week’s Crypto Biz looks at PayPal’s crypto gateway, Franklin Templeton’s BTC ETF filing, Coinbase’s Lightning Network integration, and Meta’s plans for a new AI model
Transparency Report Reveals Backing for Paypal’s PYUSD Stablecoin
14.9.2023
Paypal’s stablecoin, PYUSD, has been operational for 38 days. The token’s issuer, Paxos, has issued a transparency report related to the coin’s reserves. Much like many of today’s stablecoin industry leaders, PYUSD is supported by cash reserves and U.S. Treasury reverse...
Paxos confirms it's responsible for $500K mistaken Bitcoin transaction
13.9.2023
The account that paid $500,000 to move $2,000 worth of Bitcoin was a Paxos server, the company stated
Paypal Offers More Crypto Payment Options for Web3 Merchants in US
13.9.2023
Payment processor Paypal announced it’s introducing on- and off-ramps to facilitate crypto payments for Web3 platforms. Once integrated, merchants in the sector will be able to employ them to expand their user base by connecting to Paypal’s payments system. Paypal Launches On-...
PayPal PYUSD stablecoin is 100% backed: Paxos transparency report
13.9.2023
The total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4 million as of Aug. 31, Paxos report states
PayPal enables US users to sell cryptocurrency via MetaMask wallet
12.9.2023
PayPal continues expanding its digital asset services, integrating new methods to sell cryptocurrencies like Bitcoin
What's Wrong With PayPal's Stablecoin?
12.9.2023
PayPal Enhances Crypto Offering with USD Conversion Service
12.9.2023
Payments giant PayPal is expanding its cryptocurrency offerings with the introduction of a USD conversion service.
The new "off ramp" service enables users to seamlessly convert their digital currencies into US dollars, the company said in a recent press release.
With this service, crypto wallet...
U.S. Fed’s Vice Chair Barr Says CBDC Decision Still a ‘Long Way’ Off
8.9.2023
The U.S. is far from making any decision on a central bank digital currency (CBDC), said Federal Reserve Vice Chairman Michael Barr, who described the Fed as still being in the “basic research” phase
ECB Official Shares Digital Euro Progress, Concerns Over Paypal’s Stablecoin
7.9.2023
European Central Bank (ECB) executive board member Fabio Panetta has warned about stablecoins issued by private providers, such as Paypal. He also provided an update on the progress of the digital euro. “At the ECB, our investigation phase is now in its final stage, preparing the ground...
Colorado DMV Accepts Crypto Payments Through Paypal
2.9.2023
The Colorado Department of Motor Vehicles (DMV) has announced it accepts cryptocurrency for its online services via the payment processor Paypal. Besides paying local taxes with coins, residents of the crypto-friendly state will be able to use their digital cash to renew driver’s licenses...
Coinbase Debuts Paypal’s PYUSD Stablecoin; Trading to Roll Out in Phases Pending Liquidity
31.8.2023
Coinbase has listed Paypal’s PYUSD stablecoin, following an announcement of its support for the digital asset just a day earlier. Should liquidity requirements be satisfied, the exchange plans to introduce trading pairs for the asset in stages. Coinbase Adds PYUSD Stablecoin Coinbase,...
PYUSD’s Modest Footprint: A Tale of Languid Activity Amidst Stablecoin Titans
30.8.2023
Following Paypal’s declaration about the introduction of a fresh stablecoin, the smart contract address has revealed that the quantity of PYUSD stood at approximately 26.9 million. In the subsequent 22 days, the supply of PYUSD has risen by over 60%, now totaling 43.3 million....
Crypto Analyst Predicts Stablecoin Adoption Boom Even in Face of Hostile Regulation
30.8.2023
Jamie Coutts, an analyst from Bloomberg Intelligence, has predicted that stablecoin adoption will grow significantly once the issue of hostile regulations in the U.S. is put aside, noting “adoption under the hood is exploding.” Coutts believes that stablecoin usage may overtake bitcoin...
Governments See CBDCs Making Their Countries ‘More Economically and Financially Efficient’ — Venom Foundation CEO
29.8.2023
According to Louis Tsu, the CEO of Venom Foundation, governments that are seeking to introduce central bank digital currencies (CBDCs) are not being driven by the fear that privately issued digital currencies may soon become the preferred method for cross-border and micropayments. Instead, some...
PayPal's PYUSD struggles with early adoption — Nansen
25.8.2023
PayPal's stablecoin debut raised hopes for broader adoption and an introduction of cryptocurrencies to the masses. Early adoption trends paint a different picture
Australian exchange enlists PayPal as banks ‘close ranks’ against crypto
25.8.2023
The new partnership offers investors extra choice and “mitigates the risks” of Australian crypto banking blocks, said Independent Reserve CEO Adrian Przelozny
The Protocol: Coinbase Blockchain's Viral Use Case Puts Focus on Optimism's Tech
23.8.2023
The week in blockchain tech: Crypto-fueled social marketplace Friend.tech goes viral on Coinbase's new Base blockchain, Shiba Inu community's "Shibarium" network aims for fresh start, and Ethereum experts handicap the competition between leading technologies for layer-2 networks
PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
21.8.2023
Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin
Crypto Biz: Binance Connect goes dark, Prime Trust is bust and PayPal unveils Crypto Hub
18.8.2023
This week's Crypto Biz explores Binance Connect shutdown, BitGo's funding round, PayPal Crypto Hub, and other news