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PAYPAL: Crypto StableCoin PYUSD?

August 11, 2023 5:34 PM

Global Launch

By Staff Reporters

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Recently, PayPal debuted its stablecoin, PayPal USD (PYUSD), the first issued by a global financial platform. Stablecoin is a cryptocurrency pegged to a stable asset, in this case, the US dollar, which is meant to make it less volatile and safer than other digital tokens. Stablecoins have been around for decades but haven’t taken off in the consumer payment space—mainly because regulators aren’t convinced of the stability promise.

But, PayPal asserts that PYUSD will “reduce friction for in-experience payments in virtual environments” and allow faster and cheaper transfers between countries.

• PYUSD works for peer-to-peer payments, both for checking out online and transferring value among digital wallets.
• The currency is redeemable for dollars and is convertible to or from other digital currencies that PayPal supports.
• And soon, you’ll be able to send your tokens between PayPal and Venmo, making it even more convenient to send money any where and any time..

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COMMENTS APPRECIATED

Thank You

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Posted by Dr. David Edward Marcinko MBA MEd CMP™

Categories: "Ask-an-Advisor", Glossary Terms, Information Technology, Investing

Tags: digital tokens, PAYPAL, PYUSD, Stable coin, stable Coins, Venmo

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