Fintech Insider Podcast by 11:FS cover image

770. News: PayPal launches stablecoin and Apple $10 billion rocks the banking world

Fintech Insider Podcast by 11:FS

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PayPal Launches Stablecoin

PayPal is launching its own stable coin, PayPal USD or PYUSD for short. The company says a cryptocurrency token is fully backed by US dollar deposits and can be bought or sold on PayPal's app or website at $1 per PYUSD. With the stablecoin, users can make person to person payments, fund purchases with the currency at checkout and transfer PYUSD between PayPal and other outside wallets.

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