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Topic: PYUSD a.k.a Paypal USD - page 5. (Read 644 times)

X-ray
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Re: PYUSD a.k.a Paypal USD
August 07, 2023, 11:36:57 AM
#2
It's supposedly to be a very beneficial for crypto users who have paypal account as they can now start to cash out their money directly to their paypal account. This is also boosing the adoption from the crypto.
We have known so well if paypal has a lot of users. It will be also indirectly promoting crypto. That's gonna be a real competitor for USDT.

Paypal must fully disclose their practices and comply with regulations. PYUSD will be ethereum based token.

I think that so many people will be using it rather than USDT as it's backed by clear entities that's fully transparent. Im waiting for major exchange sites to add it. This news is good since paypal had 426 million users.


Quote
Starting today and rolling out in the coming weeks1, eligible U.S. PayPal customers who purchase PayPal USD will be able to:

Transfer PayPal USD between PayPal and compatible external wallets 
Send person-to-person payments using PYUSD
Fund purchases with PayPal USD by selecting it at checkout2
Convert any of PayPal's supported cryptocurrencies to and from PayPal USD 
https://newsroom.paypal-corp.com/2023-08-07-PayPal-Launches-U-S-Dollar-Stablecoin
Yogee
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Activity: 1554
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Re: PYUSD a.k.a Paypal USD
August 07, 2023, 10:37:09 AM
#1
They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos.

It's supposed to maintain a $1USD value and backed up by the following:
- Dollar deposits
- US treasuries
- Cash equivalents.

Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet. Are conversion rates supposed to be higher or trade fees become lower for PYUSD pairs?

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd


Quote from: Yogee on September 05, 2023, 09:40:03 AM
PYUSD has already been listed on some major exchanges such as Coinbase and Kraken in case you're interested. The current circulating supply according to CMC is at 44,376,440 - https://coinmarketcap.com/currencies/paypal-usd/

It probably won't be long before other exchanges will list it. Expect the supply to also increase so entering the top 10 is only a matter of time.
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