PayPal Launches U.S. Dollar Stablecoin
Portfolio Pulse from Benzinga Newsdesk
PayPal has launched a U.S. dollar stablecoin, PayPal USD (PYUSD), which is fully backed by U.S. dollar deposits, short-term U.S. treasuries, and similar cash equivalents. PYUSD can be redeemed 1:1 for U.S. dollars.
August 07, 2023 | 1:03 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
PayPal's launch of the PYUSD stablecoin could potentially increase its market share in the digital currency space.
The launch of PYUSD represents PayPal's entry into the stablecoin market, which could potentially attract more users to its platform and increase its market share in the digital currency space. This could have a positive impact on PayPal's stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100