📢 The British fintech BVNK🇬🇧 integrates PayPal's USD stablecoin into its payments platform

📢 The British fintech BVNK🇬🇧 integrates PayPal's USD stablecoin into its payments platform

Transactions with PYUSD will be available through BVNK's API application, on the hosted payment page, or in the company's merchant portal.

➡️ PYUSD is issued exclusively by Paxos Trust Company, which is regulated by the New York Department of Financial Services (NYDFS).

➡️ PYUSD (an ERC-20 token on the Ethereum blockchain) is backed by U.S. dollar deposits, short-term U.S. Treasury bonds, and similar cash equivalents. It can be exchanged for USD at a 1:1 ratio. However, it's important to understand that stablecoins carry counterparty risk and their value is not guaranteed.

➡️ It's noteworthy that April 2024, the market capitalization of stablecoins had already reached USD 160 billion. Specifically, PYUSD's market capitalization reached USD 320 million in less than a year.

➡️ About BVNK: In February 2024, the platform began operating in Europe after obtaining a local EMI license. The name of the platform suggests a kind of banking. On this platform from the British creators, PYUSD will be the 15th digital currency — alongside major stablecoins and 25 fiat currencies.

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