The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into PayPal’s dollar-backed stablecoin, PYUSD, opting not to pursue any enforcement action. The decision was disclosed in a regulatory filing on April 29, marking a regulatory win for the payments giant. PayPal revealed that it had received a ...
PayPal and Venmo have integrated Solana (SOL) into their cryptocurrency offerings. This move allows users to buy, sell, and transfer SOL directly within the apps. The integration marks a significant step in the mainstream adoption of blockchain technology, particularly for Solana, which has gained attention for its high-speed transactions and ...
PayPal wants to boost the adoption of its USD-pegged stablecoin, PayPal USD (PYUSD), by integrating across its services. According to Bloomberg, the payment giant is planning to introduce PYUSD as an option for its over 20 million small to medium-sized merchants to pay vendors before the end of 2025. This ...
The residents of the U.S. city of Detroit will soon be able to pay taxes and other city fees using cryptocurrency, as the city’s Treasury Department plans to introduce crypto payment options by mid-2025. On November 7, the Department released a statement announcing a new initiative aimed at aligning with ...
David Marcus, former president of PayPal and current CEO of Lightspark, has publicly endorsed former President Donald Trump for re-election. In a post on the social media platform X, Marcus expressed his support for the Republican Party, stating that he had reached this decision after reassessing his views. Marcus, who ...
PYUSD stablecoin's new privacy feature, "confidential transfers", has generated significant buzz in the crypto community as PayPal make the dollar-pegged cryptocurrency available on the Solana blockchain. The payment giant announced the move to Solana on May 29, stating it was the next step in achieving its aim of making the ...
PayPal's Blockchain Research Group, in partnership with Energy Web and DMG Blockchain Solutions, has proposed a new system to incentivize Bitcoin miners to adopt low-carbon energy sources. The proposal, explained in a blog post published on April 22, involves implementing "cryptoeconomic incentives" to encourage miners to embrace green energy practices. ...
PayPal has once again moved to assert itself in the Web3 payment space by launching an on- and off-ramp integration for merchants and service providers. PayPal, on September 11, 2023, announced that it is introducing an off-ramp service for users with crypto wallets. This new offering builds upon its previous ...
On August 7, 2023, PayPal marked a significant milestone with its foray into the cryptocurrency sector. The renowned global digital payment firm launched its inaugural cryptocurrency product, the PayPal USD (PYUSD) stablecoin, backed by a blend of US dollar deposits, short-term US. Treasuries, and comparable highly liquid assets. PYUSD operates ...
In a decisive move that underscores the growing influence of cryptocurrencies in the financial landscape, PayPal has taken the plunge into the world of stablecoins. On August 7, 2023, PayPal announced its entry product into the world of cryptocurrencies: the PayPal USD (PYUSD) stablecoin. This new stablecoin derives its value ...
