📣 PayPal rolls out its stablecoin PYUSD across 70 markets

📣 PayPal rolls out its stablecoin PYUSD across 70 markets

PYUSD is a US dollar-backed stablecoin initially launched in the United States in 2022. In the coming weeks, it will become available to users with PayPal accounts across markets in Asia-Pacific, Europe, and Latin America.

💠 Users will be able to purchase and hold PYUSD, access a rewards system, send and receive transfers, as well as convert PYUSD into local currency upon withdrawal.

💠 The ability to execute fast transfers enhances liquidity and reduces reliance on traditional settlement cycles.

💠 For market participants: it will be important to monitor PYUSD’s market capitalization and trading volume. As PayPal expands the integration of PYUSD across its ecosystem, this could drive demand and lead to the creation of new trading pairs. The expansion also underscores the critical role of regulatory compliance in scaling crypto-based products globally.

💠 Context: PYUSD is also a relevant asset from the perspective of the issuing company’s capital structure. Partly due to this development, Stripe has considered acquiring at least part of PayPal’s business.

#news #crypto #USA #world_wide

🏦 Payouter.com — reliable payment partner in the CIS and 🇮🇳India: Intent, UPI P2C conversion 54% on FTD