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Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PayPal's Growing Crypto Offerings With PYUSD<\/h2>\n\n\n\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

PayPal's Growing Crypto Offerings With PYUSD<\/h2>\n\n\n\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This move is part of PayPal's larger strategy to make cryptocurrency more accessible to everyday users. In September, PayPal extended its crypto services to U.S. merchants, enabling them to buy, hold, and sell cryptocurrency from their business accounts. <\/p>\n\n\n\n

See Related: <\/em><\/strong>PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

PayPal's Growing Crypto Offerings With PYUSD<\/h2>\n\n\n\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Venmo, a popular mobile payments app owned by PayPal, allows <\/a>users to fund crypto purchases through their account balance, direct bank withdrawal, or debit card. However, this feature is not available for users in New York and Texas.<\/p>\n\n\n\n

This move is part of PayPal's larger strategy to make cryptocurrency more accessible to everyday users. In September, PayPal extended its crypto services to U.S. merchants, enabling them to buy, hold, and sell cryptocurrency from their business accounts. <\/p>\n\n\n\n

See Related: <\/em><\/strong>PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

PayPal's Growing Crypto Offerings With PYUSD<\/h2>\n\n\n\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/moonpay\/status\/1846982624838881435\n<\/div><\/figure>\n\n\n\n

Venmo, a popular mobile payments app owned by PayPal, allows <\/a>users to fund crypto purchases through their account balance, direct bank withdrawal, or debit card. However, this feature is not available for users in New York and Texas.<\/p>\n\n\n\n

This move is part of PayPal's larger strategy to make cryptocurrency more accessible to everyday users. In September, PayPal extended its crypto services to U.S. merchants, enabling them to buy, hold, and sell cryptocurrency from their business accounts. <\/p>\n\n\n\n

See Related: <\/em><\/strong>PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

PayPal's Growing Crypto Offerings With PYUSD<\/h2>\n\n\n\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

PayPal has announced that U.S. customers can now purchase digital coins like Bitcoin and Ethereum through MoonPay using their Venmo accounts. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/moonpay\/status\/1846982624838881435\n<\/div><\/figure>\n\n\n\n

Venmo, a popular mobile payments app owned by PayPal, allows <\/a>users to fund crypto purchases through their account balance, direct bank withdrawal, or debit card. However, this feature is not available for users in New York and Texas.<\/p>\n\n\n\n

This move is part of PayPal's larger strategy to make cryptocurrency more accessible to everyday users. In September, PayPal extended its crypto services to U.S. merchants, enabling them to buy, hold, and sell cryptocurrency from their business accounts. <\/p>\n\n\n\n

See Related: <\/em><\/strong>PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

PayPal's Growing Crypto Offerings With PYUSD<\/h2>\n\n\n\n

PayPal initiated <\/a>its first corporate payment using PayPal USD (PYUSD).<\/p>\n\n\n\n

Last year, PayPal launched <\/a>its Ethereum-based stablecoin, PayPal USD (PYUSD), pegged to the U.S. dollar. PYUSD now operates on Solana, a major crypto network. In April, PayPal allowed users to exchange PYUSD for dollars to make international payments through its Xoom platform.<\/p>\n\n\n\n

MoonPay, in partnership with Venmo, helps overcome common banking issues with crypto purchases. Many crypto transactions fail due to bank restrictions on debit cards, but the Venmo-MoonPay integration aims to resolve these hurdles, offering a smoother experience for users.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal's Venmo Expands Crypto Access Via MoonPay","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypals-venmo-expands-crypto-access-via-moonpay","to_ping":"","pinged":"","post_modified":"2024-10-21 00:46:58","post_modified_gmt":"2024-10-20 13:46:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19208","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT

PYUSD

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
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