PayPal has launched PayPal USD, a stablecoin backed by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalencies.

submitted by Musky from self.cryptocurrency

That's all the article said so, I mean why link to it.

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newinsightfulfun

[–]SoCo 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

It is quite a turn of events, especially considering the current administration's attack on all thing crypto and the deceptively vague and two-sided FEC stance.

This has a little info: https://www.theblock.co/post/243569/paypal-launches-stablecoin

[–]larrymartins 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

This development from PayPal might signal a shift towards mainstream acceptance of cryptocurrencies. With the backing of stable assets it could attract more investors seeking a secure entry point into the crypto space.

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