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PayPal Stable Coin?

Heatman

Heatman

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Have you heard about PayPal stable coin? Yes, it's already in existence as PayPal the biggest payment processor in USA have finally taken a step towards accepting cryptocurrency. The stable coin is yet to make its way into other cryptocurrency exchange website like Coinbase, Binance and others but we expect it to come there.

What are your thoughts on PayPal launching its own stable coin?
 
Wow! This is the first time am hearing about it. I wonder how paypal will run their coins whether they will integrate with crypto exchanges or run it solely. PayPal have speak horrible and unprintable things against crypto. Now, they are going back to their vomit!🤣🤣🤣🤣
 
I was very shocked when the news broke around August this year from the company. I never expected them to go that path with cryptocurrency.

Everything you need to know about the development is in this their press conference update!

newsroom.paypal-corp.com

PayPal Launches U.S. Dollar Stablecoin

PayPal USD (PYUSD) is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents, and can be redeemed 1:1 for U.S. dollars.
newsroom.paypal-corp.com newsroom.paypal-corp.com
 
Yes, I have heard of this stablecoin since it came out, since I read it on coinmarketcap, I hope that this stablecoin works well and helps crypto adoption since PayPal has many users.
 
As far as I know, PayPal has adopted cryptocurrencies such as Bitcoin several years ago as a means of payment but unfortunately it only applies in the United States. In August 2023 PayPal collaborated with Paxos to launch PayPal USD (PYUSD) as a stablecoin to avoid the volatility of cryptocurrency, which will be used as a virtual means of payment but in practice PYUSD is also used as trading pairs. PYUSD is collateralized by USD deposits, short-term securities etc.
 
Well, to be honest, this is the first time I've heard of Paypal's own coin. However, in my opinion, I consider PayPal among the best money exchange sites and therefore I already have advance trust in this new currency.
 
Alberello75 said:
Well, to be honest, this is the first time I've heard of Paypal's own coin. However, in my opinion, I consider PayPal among the best money exchange sites and therefore I already have advance trust in this new currency.
Click to expand...
If they know how to run this stablecoin, I think it could be a success given the number of users that PayPal has, we will see how everything develops since it is still early
 
riberet19 said:
If they know how to run this stablecoin, I think it could be a success given the number of users that PayPal has, we will see how everything develops since it is still early
Click to expand...
PayPal USD or PYUSD is actually a token that runs on the Ethereum blockchain, Total supply is 130.5 million PYUSD. and has been widely used as trading pairs, currently available on various cryptocurrency exchanges such as Kraken, Binance, Coinbase, Kucoin, Uniswap etc.
 
This is very interesting and just goes to say that Cryptocurrency is going strong,with the way things have been going and cryptocurrency losing credibility.a company like paypal coming on board the cyprocurrency space is a boost for a lot of people to escalate their investments in cyrptocurrency because large players are coming onboard.
 
From As I understand, the PayPal stablecoins despite it should be a cryptocurrency that works on the blockchain circuit, which always maintains the value of $1. Hence the word STABLE.
 
To be honest i never expect that paypal will join the cryptocurrency world since its already well known online wallet and it is accepted by many international banks and big shops, but hearing that they are developing a stable coin makes me happy, its good to have another chose on the stable coin market, personally i use USDT but if paypal stable coin gets good review and accepted by many websites i may try it.
 
magnus2022 said:
Wow! This is the first time am hearing about it. I wonder how paypal will run their coins whether they will integrate with crypto exchanges or run it solely. PayPal have speak horrible and unprintable things against crypto. Now, they are going back to their vomit!🤣🤣🤣🤣
Click to expand...
It was inevitable that they would join the crypto bandwagon. I knew it would come to this when they allowed purchase of crypto through PayPal. With their kind of experience, I believe the PayPal stable coin would get very popular.
 
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