PayPal is introducing a new service that lets U.S. clients transfer money across borders using its PYUSD stablecoin.U.S. Users of PayPal’s international payments service, Xoom, can convert PYUSD to USD and send money to recipients in around 160 countries without incurring transaction fees. PayPal, based in Silicon Valley, is aiming to expand the use of […]
Global payment giant PayPal is under the regulatory spotlight as the U.S. Securities and Exchange Commission (SEC) raises concerns about its recently launched stablecoin, PYUSD. PayPal revealed on November 2 that it has received a subpoena from the SEC’s Enforcement Division regarding its U.S. dollar-pegged stablecoin. PYUSD was introduced by PayPal in early August through […]
In recent developments, PayPal has introduced its stablecoin, known as PYUSD. This raises the question: Is investing in PYUSD a prudent decision? To answer this query, it is essential to comprehend the dynamics of stablecoins, their purpose, and the broader implications of PayPal’s foray into the crypto landscape. Stablecoins and Their Nature First and foremost, […]
PayPal, the global leader in online payments, has announced the launch of its own stablecoin, PayPal USD (PYUSD), which is backed by the US dollar and issued by Paxos Trust Co. The new stablecoin aims to facilitate faster and cheaper transactions across the PayPal network and beyond. Today, we’re unveiling a new stablecoin, PayPal USD […]
PayPal’s announcement on Friday that it will be expanding its cryptocurrency services through Venmo has sparked excitement for many crypto enthusiasts. The company made the announcement at the Consensus 2023 event. In an increasingly digital world, this move is a giant leap toward integrating cryptocurrencies into mainstream financial services. The four cryptocurrencies accepted by Venmo—Bitcoin, […]
Adhering to the calls of many of its customers, online payments solution giant PayPal now allows users to transfer cryptocurrencies from their accounts to other wallets or digital exchanges. The company announced on Tuesday: “We are thrilled to announce that starting today, Paypal supports the native transfer of cryptocurrencies between Paypal and other wallets and […]
Despite the bearish rout in the crypto industry, payments solution behemoth PayPal recently announced that it is working on issuing a personalized cryptocurrency. While there are no details on what this cryptocurrency is or when it would drop, PayPay noted that it would be a stablecoin, possibly pegged to the US dollar. In an interview […]
PayPal is expanding its foray into the cryptocurrency industry as the payments giant announced the launch of its “super app wallet” for its American customers. The company noted that it would launch the upgraded version in the upcoming months. PayPal CEO Dan Schulman revealed in the PayPal Q2 2021 Earnings Call that the company plans […]
With the move to online showing no sign of slowing, PayPal is going from strength to strength, judging by its first quarter results. Earnings per share of $1.22 was above analyst expectations of $1.01, while revenue came in marginally ahead of predictions at $60.3 billion, which compares to Wall Street’s $59 billion. Meanwhile, net profit […]
