PYUSD

coinfeeds-bot

tldr; Coinbase is waiving fees on transactions involving PayPal's stablecoin, PYUSD, and enabling direct redemption for U.S. dollars. This partnership aims to boost PYUSD adoption for payments, allowing merchants to settle directly in the stablecoin. Both companies plan to explore further use cases for PYUSD, including decentralized finance platforms. The move aligns with growing stablecoin usage and comes as U.S. lawmakers consider regulatory frameworks for stablecoins. PYUSD's market cap is $872 million, with potential growth through this integration. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; PayPal is launching a loyalty program this summer offering U.S. users a 3.7% annual interest rate on PYUSD stablecoin balances to boost adoption of its dollar-backed cryptocurrency. The initiative, accessible to PayPal's 400 million users without minimum balance or lock-up requirements, aims to compete with stablecoin giants like Tether and USDC. Backed by Paxos Trust Company and compliant with U.S. regulations, the program seeks to drive PYUSD use in payments, remittances, and everyday commerce. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; In 2025, yield-bearing stablecoins have gained popularity for combining stability with passive income. The top five stablecoins include Angle Protocol's stUSD, MakerDAO's sDAI, Ethena Finance's USDe, Ondo Finance's USDY, and PayPal's PYUSD. These stablecoins offer yields ranging from 2-7% through mechanisms like staking, real-world asset backing, and delta-hedging. Each platform caters to different investor needs, balancing risk and returns. Investors are advised to evaluate their goals to choose the best option. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; PayPal has added Solana (SOL) and Chainlink (LINK) to its supported digital assets for customers in the US and US territories, expanding its crypto lineup that includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and PayPal USD (PYUSD). While users can buy, sell, and hold SOL and LINK, external transfers for these assets are not yet confirmed. PayPal's move continues its efforts to enhance crypto accessibility and utility for its users and merchants. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MaximumStudent1839

Well, most commonly used stablecoins, like USDT/USDC/PYUSD, are centralized. If not careful, they can freeze your entire stablecoin balance, not just the amount paid. It happens when the stablecoin is sourced from funds obtained in a major hack etc.

FriedWiseGuy

A hacker stole $900 from me and at least $15K from others via PayPal, sending it to this Ethereum address: 0x207BBFa77da93e6F92C3cA8daE388537ce8A26fa. They purchased PYUSD with my debit card that was linked to the account and transfered to the address. l've reported it to PayPal and my bank, but is there anything else I can do? Can this ETH wallet be tracked or reported anywhere? Any advice on next steps would be appreciated. Has anyone dealt with something similar?

CipherScarlatti

Has anybody actually used PYUSD yet?

coinfeeds-bot

tldr; PayPal plans to expand the use of its stablecoin, PayPal USD (PYUSD), for global payments by 2025. The company aims to integrate PYUSD into its products, including Hyperwallet, to facilitate cross-border transactions and reduce currency conversion friction. By the end of 2025, merchants will be able to accept PayPal crypto transactions globally. PayPal also intends to make PYUSD a payment option for over 20 million merchants by the end of 2023. The stablecoin was launched in August 2023 on Solana and Ethereum blockchains. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ThinNeighborhood2276

This could significantly streamline cross-border transactions for merchants, reducing currency conversion issues and delays. Exciting to see PayPal pushing forward with PYUSD integration.

MaximumStudent1839

> If so, do they refer to such transactions as "wire transfers," "XRP money transfers," or something different? The closest example is stablecoin transfers. You can create a PayPal account and transfer PYUSD via Solana/Ethereum. Then you just need your bank connected to PayPal to on board money to buy stablecoins. But I don't think XRP has this. Much of crypto is about "buying a dream of something happening maybe in the future". A lot of XRP valuation seems to be based on their holders' rabid conviction XRP will do things in the future, rather right now.

jawni

>So - what do you think is likely to be the "daily" cryptocurrency in the future? any answer outside of stablecoins is wrong. >I'm not looking for a sales pitch for your favourite alt / shit coin, I'd like to hear about the technical details that mean one coin is likely to pull ahead of the others in terms of daily usage or transactions. Tron is in the lead for being a chain used for regular usage(of USDT), other than that Solana is in the lead for general usage, and Ethereum is in the lead for stablecoin supply/liquidity. Another factor I think is looking at which chains have partnered with or integrated other payment systems and what outside companies think about each chains capabilities, specifically primitives like token extensions on Solana. Solana has partnered with Worldpay, Shopify, Visa, and Paypal, with Paypal saying >The first chain was Ethereum. We all know that Ethereum is not the best solution for payments when we were looking at the primitives,” said da Ponte when asked why PayPal decided to launch PYUSD on Solana. >“So it was very easy when we were looking at where do we go next and what is the right chain for payments,” da Ponte noted. “It’s not only the speed, it’s not only the throughput that is important. We were talking about token extensions. Token extension was a big good driver for us.” And you can see how someone like the State of Wyoming compares chains for their use with payments/stables and they also echo that sentiment: https://stabletoken.notion.site/Wyoming-Stable-Token-Commission-100c90ef13ad800ab69ff642da4ae0dc (main site) https://docs.google.com/spreadsheets/d/1XjDC3hoBl6ls-J_fCZf3zQRmfTRMAJTm/edit?gid=801684164#gid=801684164 (scoring)

jawni

Sounds like Circle has reservations as well. >Just landed in the UAE to engage with local and global exchanges, discussing CNA and Cardano. Reflecting on last week at the WEF, where I once again met with executives from Circle (USDC). **They were transparent about their perspective on strategic fit—or rather, the lack of it—with Cardano.** https://x.com/F_Gregaard/status/1885077911193219514 Sounds like a nice way to say what I was theorizing. >Even if it's implemented, I still see USDC or USDT support, or even PYUSD being a long shot. Miniscule volume on Cardano means it won't be used that much for trading and longer block times make it's use for onchain payments subpar.

conceiv3d-in-lib3rty

Yeah but that’s not just USDT, it’s DAI, PYUSD, WBTC, and more. And it’s just in Europe.

jawni

>I think we’ve seen a lot of what the accounting model can do and not enough of what UTXO(or the extended model) is capable of which is why I’ve always like Cardano. Cardano has been around forever, has there ever been even a single other notable project that has chosen Haskell or EUTXO? If we haven't seen enough by now, when would that ever change? On the flipside, EVM, SVM, Move, even Wasm was popular, and all of them have been adopted by multiple projects. If EUTXO or Haskell is really promising, where are the rest of the projects using it? >But I do admire the risk-mitigation especially since I have worked with developing flight controls and avionics; and we use functional programming. I think at this point if security is a concern you just go with Move, purpose-built for blockchains and security in mind, the only downside is the lack of libraries/docs being a newer language. But I'd imagine it's not that bad unless comparing to something well established like ETH. > Freezing and clawbacks will probably be one of the first thing the community implements due to the lack of “real” stablecoins on the platform. The token standards has already been created but not implemented. Devil is in the details though, I've seen one dev say that the functionality is available, and one dev say that implementing that functionality breaks the composability and would require intense adaptation and retrofitting from all of Cardano's dapps. Even if it's implemented, I still see USDC or USDT support, or even PYUSD being a long shot. Miniscule volume on Cardano means it won't be used that much for trading and longer block times make it's use for onchain payments subpar.

toshiromiballza

PYUSD on Solana hasn't seen any actual use either, why would RLUSD?

toshiromiballza

It won't be relevant just like PYUSD isn't.

coinfeeds-bot

tldr; Coinbase will restrict European users from trading certain stablecoins, including Tether (USDT), starting December 13, to comply with the Markets in Crypto-Assets (MiCA) regulatory framework. Other stablecoins like PAX, PYUSD, GUSD, GYEN, and DAI will also be delisted for being MiCA noncompliant. However, Coinbase will continue to support Circle's USDC and EURC, as Circle has secured a European stablecoin license under MiCA laws. Tether has not publicly responded to the delisting, and its future in Europe remains uncertain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Shiratori-3

They'd have to be pretty dumb criminals though yes? - as per below, there's every chance the funds would be frozen and seized. Tbh, sounds a little bit like narrative posturing. The below from Tether's website relates. > Commitment to Law Enforcement and Combating Financial Crime > Tether is an industry leader in supporting law enforcement agencies globally. Tether, recognizing its role as the biggest stablecoin in the world, has taken proactive measures to reach out to national police forces in many jurisdictions in order to establish a direct and efficient line of communication for the purpose of assisting in investigations and enacting freezes of wallets conducting criminal activity. To do this, Tether has hired/contracted ex-law enforcement officers, ex-public prosecutors, bank investigators, and analysts from blockchain forensics firms who represent Tether’s External Investigations Unit. Furthermore, through robust compliance measures via partnerships with organizations like Chainalysis, and proactive illicit finance prevention through initiatives such as our T3 Financial Crime Unit, Tether has been instrumental in combating financial crime. Since its inception, Tether has collaborated with 180 agencies across 45 jurisdictions, freezing approximately 1,850 wallets involved in illicit activities, and recovering over $113.8 million in assets. > Recently, Tether took decisive action against a notorious group of North Korean hackers that go by the name Lazarus Group, freezing and blacklisting wallet addresses linked to the group that contained nearly $5 million in stablecoins. In stark contrast to its closest competitor, Tether swiftly blocked these funds, protecting the integrity of the stablecoin ecosystem. > In notable cases, such as the U.S. Department of Justice’s disruption of a cyber scam organization, Tether’s swift action facilitated the seizure of nearly $9 million in crypto. The DOJ acknowledged Tether for its role in the seizure of the assets and would do so again and again. Additionally, Tether’s role in freezing $225 million linked to fraud schemes (such as pig butchering) has been commended by authorities for its effectiveness in thwarting criminal networks. Tether has demonstrated its willingness to evolve its policies as its technology has achieved broader adoption. Tether enforces U.S. Sanctions by voluntarily freezing wallets published on the SDN list, exemplifying its continued commitment to responsible action within the cryptocurrency ecosystem. > Tether’s closest competitors have limited their freezing actions only in response to legal orders, while Tether freezes in response to legal orders, in proactive collaboration with law enforcement, and voluntarily in cases of misuse such as stolen funds. As a result, Tether has frozen many wallets that its competitors have not. For example, if Circle had frozen the same wallets as Tether on the Ethereum blockchain, then Circle would have prevented $219 million of USDC being sent from these risky wallets – 2.7 times more than the $80 million of USDC that Circle has frozen to date. > $96 million of this $219 million that Circle failed to freeze was from the Poly Network hack in August 2021, where Tether’s timely freezing of stolen USD₮ led to the hacker returning the stolen funds. > In the case of Paxos-issued stablecoins, USDP, and PYUSD, there is minimal overlap between wallets frozen by Tether and users of Paxos-issued stablecoins.

admin_default

1) USDC and PYUSD have never depegged 2) They never had a good name in finance

jawni

like... who cares at this point? We have Tether, we have USDC, we have USDS (formerly DAI), we have PYUSD, we have Visa doing billions of dollars in stablecoin settlements already. And it's on a network that doesn't even have smart contracts... [we've seen what happens when stablecoins don't have defi.](https://www.coindesk.com/business/2023/08/17/tether-stops-support-for-bitcoin-layer-omni-citing-lack-of-demand) I'd hope demand here would be higher, but I imagine it being much lower relative to any other option.

UnknownEssence

I'm going All-In on PayPal USD (PYUSD)

MaximumStudent1839

> $100 as if it's a very real and very feasible target for the community.  I think what the XRP noobs need to realize, that price can be reached via XRP being a memetic "store of value", not from "real world use case". Competition is fierce in the blockchain space. Margins are being pushed down because devs are really good at copy-pasta in this open source world. You won't have a full monopoly to extract enough rent to justify those high valuations. If your price goes up too high, competitors would aggressively bid you down. Link marines and ETH maxis love to troll other communities that they won't get TradFi tokenization support. They pissed on other chains obnoxiously throughout the bear market. Then you see AVAX getting TradFi tokenization support. Then Solana got PYUSD and Franklin Templeton support. Then SUI gets Franklin Templeton support. Now Link marines and ETH maxis have egg on their face as TradFi explore options outside the EVM space. What is the moral of the story? TradFi want to explore growth and acquire new customers. If other ecosystems mint new millionaires, they want to tap into them. They are not any chain maxi. They are profit maxis. Whatever XRP does and see success, other chains will ape and fight for your market share. > OVER 3X the current marketcap of BTC, We have seen how crazy these assets can achieve crazy memetic values. But it usually happens over time and require multiple test of conviction of holders through major price corrections. BTC got to $100K because its community has proven itself to defend lows to get higher lower over time and push for higher highs too. It won't come easy and requires a lot of test of patience. If you don't have it, take profit if you can. Furthermore, it needs to convince institutions the community would grow over time to strengthen the price discovery. That price target can be achieved but it is definitely not by the method you all imagined. Controlling for community, block space being commoditized is a trend you can't ignore.

uncapchad

"Starting **December 13, 2024**, Coinbase will restrict services for **USDT, PAX, PYUSD, GUSD, GYEN, and DAI** for retail customers in Europe under MiCA regulations. Affected users can: 1. Sell or convert these assets to USDC or EURC (which are MiCA-compliant). 2. Transfer the restricted stablecoins to self-custody wallets before the deadline. After this date, trading, custody, and receiving these assets on Coinbase will be unavailable. The platform may reintroduce services for compliant stablecoins in the future." So you either sell those coins before the deadline or take them into self-custody before the deadline

jawni

It pretty clearly shows why Cardano was not selected, Cardano can't freeze or seize assets and Midnight might be able to, but isn't launched yet... so I'm not sure what angle Charles is really going for. >Cardano does not natively support freeze and seize of tokens at the chain level. Neither the algorithmic Djed or fiat-backed USDM (Moneta, fka Mehen) stablecoins on Cardano have freeze & seize capabilities. >Midnight can serve as a layer-2 solution for interoperability across the EVM and therefore could have the same features as USDP / PYUSD as noted throughout. However, Midnight has not yet been deployed. [source](https://docs.google.com/spreadsheets/d/1XjDC3hoBl6ls-J_fCZf3zQRmfTRMAJTm/edit?gid=801684164#gid=801684164) Charles tweeted: >We didn't have that right. Nothing was published and an unelected bureaucrat decided himself what Cardano can and cannot do and then unilaterally excluded a nearly 40 billion dollar protocol without any debate or oversight. So is he saying that Cardano *can* do that? Because if not, I don't really see how he has a point. >He noted that his company, Input Output Global (IOG), had served in an advisory capacity over the past 18 months but was not informed about the criteria or procedures for selecting blockchains. This should give pause to anyone with high hopes that Charles being an advisor for crypto to DC is somehow going to benefit Cardano anymore than any other crypto project. Having a salesman there is helpful, but the product they are selling stills needs to be compelling and it's not like Cardano is an easy sell at this point compared to Solana or Ethereum.

HSuke

Paxos is the custodian, and they already own 2 other USDP stablecoins: USDP and PYUSD (for PayPal). So we really need this many USD stablecoins?

jawni

>linking to Coinbase wallet supporting Solana is a joke, right? what other non-evm chain have they supported...ever? >You Solana stans have no clue how any of this works do you? No, I do. You posted a bunch of partnerships intimating a degree of exclusivity with Ethereum, I posted the opposite. Sorry to add competing context to your shill. >You really don’t get that not one link you spent all that time digging up mentions an L2 on Solana? Yeah, and *you* really don't get why that's a good thing for Solana... It's easy money shifting your CEX into an L2 for a ledger that needs a lot of help scaling. That's why Paypal *developed*, yes they *developed* PYUSD on Solana, because Solana doesn't need an L2, but it is very well suited for payments. The included quote should've been enough context for most people to realize that, but check all the links at the bottom if you still are confused. https://developer.paypal.com/community/blog/pyusd-quick-start-guide/ https://docs.paxos.com/stablecoin/pyusd https://docs.portalhq.io/support/pyusd-hackathon-hub https://solana.com/news/pyusd-paypal-solana-developer https://github.com/paxosglobal/pyusd-contract https://www.paypalobjects.com/devdoc/community/PYUSD-Solana-White-Paper.pdf

jawni

Just conveniently leaving out that most of your examples who "chose" Ethereum also chose Solana. Visa - https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.19881.html Coinbase - https://www.coinbase.com/blog/coinbase-wallet-introduces-support-for-the-solana-ecosystem Stripe - https://twitter.com/collision/status/1783559623511011535 bonus: Paypal - [“The first chain was Ethereum. We all know that Ethereum is not the best solution for payments when we were looking at the primitives,” said da Ponte when asked why PayPal decided to launch PYUSD on Solana.](https://cryptobriefing.com/paypal-solana-stablecoin-choice/) / https://developer.paypal.com/community/blog/build-with-pyusd-on-solana/ Shopify - https://solana.com/news/solana-pay-shopify >And being the only dapp platform with ETF approval further sets the stage for institutional adoption. Only a matter of time before Solana joins ETH. >Some have noticed that the 19b-4 for the VanEck Solana ETF has been removed from the CBOE website. Remember that Exchanges like Nasdaq & CBOE file rule changes (19b-4) to list new ETFs. Issuers like VanEck are responsible for the prospectus (S-1). Ours remains in play. >For the record, VanEck believes SOL is a commodity, much like BTC and ETH. This belief is informed by evolving legal perspectives, where courts and regulators have begun to recognize that certain crypto assets may function as securities in primary markets but behave more like commodities in secondary markets. Also, over the past year Solana has made substantial progress in decentralization; the top 100 holders now control approximately 27% of the supply, a significant reduction from a year ago. Moreover, the top 10 addresses now hold less than 9%. With over 1,500 validators across 41 countries, operating in more than 300 distinct data centers, Solana boasts a Nakamoto Coefficient of 18—surpassing most networks we monitor. The upcoming Firedancer client will further bolster decentralization, ensuring no single entity can dominate the blockchain. This decentralized infrastructure, combined with SOL's utility and economic role, aligns it closely with digital commodities like BTC and ETH. We remain committed to advocating this position alongside our exchange partners to the appropriate regulators - Matthew Sigel - Head of digital assets research Van Eck US (https://x.com/matthew_sigel/status/1825630564407267779) >Sure, Solana’s toxic shitcoin casino draws a lot of traffic, but that just solidifies the reputation that began with their FTX affiliation. A reputation that at this point is almost soley perpetuated by the most inversable group of crypto enthusiasts in the world. Keep it up.

coinfeeds-bot

tldr; PayPal is advancing the mass adoption of crypto payments through significant investments, including the launch of its stablecoin PYUSD in August 2023. The company now allows merchant customers to buy, sell, and hold crypto directly from their wallets, potentially driving widespread adoption with its 400 million customers and 36 million merchant accounts. PayPal's efforts highlight the integration of traditional finance with crypto, emphasizing interoperability and flexibility. However, crypto taxes remain a challenge for broader utilization. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ChainRing32

I’ll admit it, I use PYUSD all the time.

coinfeeds-bot

tldr; PayPal completed its first business transaction using its stablecoin, PYUSD, by paying Ernst & Young through SAP’s digital currency platform. This move highlights the efficiency of stablecoin payments in speeding up cross-border transactions by eliminating third-party delays. PYUSD, pegged to the US dollar, has a market cap of $700 million and is increasingly adopted for reliable business transactions. PayPal's senior VP emphasized the suitability of stablecoins for B2B transactions, offering a rational choice for CFOs. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

jawni

hilariously all of the tradfi examples there could apply to Solana as well with the exception of Sony, but that's not really a tradfi company anyways. Blackrock: OUSG fund tokenized by Ondo on Solana Wisdom Tree: Offers Solana ETP Visa: stablecoin settlement on Solana Paypal: PYUSD on Solana, [also they seem to prefer Solana over Ethereum](https://x.com/MilkRoadDaily/status/1836996017797095550)

ChainRing32

They do! I send PYUSD back and forth to my Phantom wallet all the time.

CipherScarlatti

I mean it's great in concept, but while Gary's going to keep rigging the game with "Everything's a security" I don't see many businesses eager to start exchanging PYUSD, BTC, or anything else if it's being taxed as capital gain transactions. Can you imagine the accounting headache?

coinfeeds-bot

tldr; PayPal is expanding its cryptocurrency services to 38 million U.S. businesses starting September 25, 2024. This move allows merchants to offer direct crypto transactions and store digital assets on PayPal's platform. Previously available to retail customers, these services now include buying, selling, and holding cryptocurrencies like Bitcoin, Ethereum, and Litecoin for business accounts. PayPal's stablecoin, PYUSD, also plays a role in this expansion, reflecting the growing demand for crypto services globally. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; PayPal has announced that its Business accounts can now buy, sell, and trade cryptocurrencies directly from their accounts. This feature is available across the United States, excluding New York. Merchants can also withdraw digital assets to external wallets for security. This move follows PayPal's launch of the PYUSD stablecoin, which is fully backed by US dollar deposits. PYUSD has been expanded to the Solana network to leverage lower transaction costs, aiming to facilitate smaller purchases. PYUSD has reached a $1 billion market cap but remains behind Tether and USDC. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; PayPal has enabled 30 million U.S. merchants to buy, sell, hold, and transfer cryptocurrencies, including Bitcoin, Ethereum, and its own PYUSD stablecoin. This update allows external wallet transfers, enhancing utility beyond PayPal's ecosystem. PYUSD is now available on the Solana blockchain, facilitating seamless transactions across platforms like Venmo. This development offers businesses near-instantaneous, zero-fee international transactions, marking a significant expansion of crypto utility in the business sector. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ChainRing32

$PYUSD is free to trade.

ChainRing32

Paypal has become my favorite crypto on-ramp. No fees on $PYUSD trades is such a sweet thing.

kirtash93

TLDR; - Stablecoins, such as Tether (USDT) and Circle (USDC), have reached a systemically important level, with a combined holding of over $125 billion in U.S. treasuries. - Onchain stablecoin monthly payment volume has tripled over the past year to $1.4 trillion, accounting for around 50% of all onchain transaction volumes. - The stablecoin market is seeing new entrants, including PayPal and Paxos’ partnership to issue PYUSD, now approaching approximately $1 billion in circulation. - Stablecoin usage has decoupled from crypto and is increasingly being held for non-crypto use cases. - Other drivers of stablecoin growth include providing U.S. dollar savings access, acting as a base currency for trading in crypto, and enabling users to earn yield on DeFi platforms. - The Block’s data dashboard shows that stablecoin circulating supply is back at all-time highs of nearly $180 billion.

CipherScarlatti

Paypal only offers their token (PYUSD), Bitcoin, Eth, Litecoin and BCash, it looks like this is really trying to push PYUSD adoption. Kinda neat though if you were looking to use an ENS to collect/send money. For internal transfers the minimum transfer amount is 0.01. But for external it's: .001 BTC .01 LTC .01 ETH .01 BCash 10 ERC-20 PYUSD 1 SOL PYUSD

H34RTLESSG4NGSTA

Looks like Paypal could make a serious play here together with PYUSD.

jawni

You really have a warped perception of Solana, I'd recommend getting less info from this sub. There is a ton of institutional demand for Solana and many high value things that require reliability are happening. I can understand why you feel the way you do about Solana if you believe it's only for memecoins. But you've clearly lost the plot when it comes to the institutional side. CoinShares is the best source I've found, they release these weekly: https://blog.coinshares.com/volume-179-digital-asset-fund-flows-weekly-report-84f3312ba409 Beyond that, we've already had 2 Solana ETF's in the US, a Solana ETF in Brazil. RWA is heating up, with PYUSD supply on Solana already outpacing the supply on ETH within just a few months, Ondo Finance tokenizing US treasuries from Blackrock. Greyscales GSOL trust also went ballistic this year.

Inferaos

Does any idy happen to know if PayPal generates the wallets for receiving crypto on their own? Or is it a 3rd party service running that whole system for them. I accidentally sent USDC to the PYUSD wallet that paypal provided for me. It was around 430 dollars worth. PayPal customer support is telling me they don't have access to the wallets and that I should wait for the transaction to reverse. I don't think that's how crypto works though? Any suggestions here? 😔 Willing to pay anybody who could help me, after recovery is made of course 🫡

MaximumStudent1839

> None, it’s just a useless hype, it has no real backed value. You are a typical Solana idiot hater. Don't even try to learn about the chain. Just listen to BS hearsay and to come here and FUD. > What real world use / purpose has Solana other than creating and trading meme coins? Your favorite TON also has a ton of shitcoins. Why doesn't it have the same volume as Solana? It is because Solana is the center of attention. Much of crypto is just a den of gamblers. Memecoin volume is a sign of the space expressing bullishness on which chain is likely to see more adoption and growth. > TON on the other hand has indeed a real use case, like paying / getting paid for ads in Telegram, buying numbers or usernames for Telegram accounts, buying .ton web3 domains accessible from Telegram native Browser, NFTs which could be implemented as profile pictures for your Telegram Account.  Every single example is about building a product around the Telegram app. Solana is integrated with companies like PayPal, Helium, etc. You can buy a Solana domain name and send money to ppl's account. Then they can move that money to PayPal via PYUSD. This one example is a lot more accessible for a lot of users than Telegram can ever offer. > mini Apps inside Telegram AppCenter which allow you to buy eSIMs, VPNs and loads of other stuff. You obviously don't even know the DePin scene on Solana to think you can't access to these type of services.

Oheson

The only real world coins are BTC, USDC, USDT, and PYUSD. BTC as a Gold replacement, digital store of value that is native to the internet and more viable than gold because we now live in a digital world, and has a fixed supply that runs on the only secure, decentralized network in the world. Stable coins are a dollar proxy and useful as such and used by people who live in unstable countries to have access to the dollar. Everything else in crypto is not used and currently fighting with each other to be the ones that dominate that particular function. The only winner we know in Alts right now is Chainlink. And even though Chainlink will be the winning Oracle and is great tech, that still does not translate to its price. Everything else is pure speculation including ETH, SOL, ADA, XRP. These are no different than Pepe, Bonk, or WIF from the standpoint of making money in crypto by buying low and selling high. So it you are looking to just make money, fundamentals mean absolutely nothing.

MaximumStudent1839

> Let me start by defusing a potential concern: it is a blue ocean market. TON can be good and SOL can be good. I don't even know what you are talking about. Never once did I bring up SOL can't do well if TON do well. You are trying to insinuate my critique on TON is based on my SOL position. Well, buddy, you are fucking wrong. I am probably one of the most honest straight-talkers in this sub. I speak my mind based on facts and don't give a fuck about narratives created by mid-IQ OG whales, traders, and VCs. I regularly speak against stupid group think and mass bullshit. And it turns out, a lot of times market seem to agree with what I say in the long run. > TON isn't merely associated with Telegram, they're already integrated. -- Your statement misrepresents this. GTFO with your semantic BS. There is "no misrepresentation", The marketing spiel is they are related to Telegram. Your distinction of "integration" doesn't make any substantial change. > SOL is used for sh\*t coins mostly and it's wildly successful. Why would that count against TON? Ok, you are now trying to strawman now. lol > SOL is also more difficult to onboard than Telegram + TON.  GTFO. I can onboard via SOL on Coinbase via SOL/USDC and PayPal via PYUSD. TON has nothing close in terms of on-boarding or off-boarding rails back to Trad Fi. Ppl are more likely to trust connecting their bank details with regulated and publicly traded companies, like PayPal and Coinbase. You can't be serious if you want to argue Telegram, HQed in Dubai, instills more new user confidence than companies, like Coinbase and PayPal, regulated by the FTC. If new users can't trust your onboarding ramp, you are fucking toast. > Hamster Kombat that have 200 million active monthly users.  [https://www.youtube.com/shorts/8rW1BgmLrEI](https://www.youtube.com/shorts/8rW1BgmLrEI) Wow, congrats on boarding millions of third-world farmers tapping their lives out to farm this shit coin. Plenty of charts tell you where all this shit end ups in the long run.

coinfeeds-bot

tldr; Ethereum leads the stablecoin market with a supply of $85 billion, reinforcing its dominance in the decentralized finance (DeFi) space. Tron follows with a $60 billion supply, favored for its low transaction fees and efficiency. Solana's stablecoin supply has reached $3.3 billion, driven by USDC inflows and PayPal’s PYUSD adoption. Ethereum's broad DeFi ecosystem and significant stablecoin inflows consolidate its position as a key player in cryptocurrency liquidity. The stablecoin market is witnessing rapid growth, with Ethereum at the forefront, followed by Tron and Solana. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Oheson

Convert to USDC or PYUSD and send to another exchange or Paypal to cash out.

jawni

Stop saying stupid shit, the people here are as dumb as you and will believe you. They literally wrote out why they chose Solana, no need to lie. I know doing DD is hard, but a 5 second google search could've given you the answer. >PYUSD is enabled by Solana token extensions, bringing familiar fintech features to stablecoin payments. These token extensions are expanded on in the PYUSD Solana white paper: >Confidential Transfers: allowing merchants the option to maintain confidentiality of transaction amounts while maintaining visibility of other transaction details for regulatory purposes. This is not dissimilar from today’s commerce – for instance, you cannot see the financial statements of your neighborhood coffee shop just because you buy from the shop daily. >Transfer Hooks: enable PayPal developers to invoke custom programs during token transfers for individuals and merchants using PYUSD. These hooks will enable an ecosystem of useful features that mirror today’s “plug-ins” for commercial. >Memo Fields: enables senders and receivers to include information along with payments, creating a more user-friendly experience for daily payments and record keeping.

slicediceworld

I mean I see the benefits like wouldn't PYUSD be more stable than USDT that is all based in secrecy?

skyHIGH-1

I wonder how PYUSD is going to be secured on the PayPal account. Will PayPal offer their own wallet version, with cold wallet connectivity option? I have no idea , but they better make the user interface flawless easy to navigate from a consumers point of view.

skyHIGH-1

Agree , I remember those solana times . When solana system crashed . I wonder how PYUSD is going to be secured on the PayPal account. Will PayPal offer their own wallet version, with cold wallet connectivity option? I have no idea , but they better make the user interface flawless easy to navigate from a consumers point of view.

skyHIGH-1

If it’s too complicated to use PYUSD with all that network management , I will just use fiat on my purchases . I have no problem using USD.

tenor_tymir

What benefit do i have from holding PYUSD?

OppositeBumblebee914

Launch PYUSD on Cream finance.

gbersac

PYUSD only has a market cap of €368,494,179. That crypto doesn't really matter.

coinfeeds-bot

tldr; PayPal's stablecoin, PYUSD, is expanding to the Solana blockchain nearly a year after its debut on Ethereum. Despite its backing by a major name, PYUSD has not seen significant uptake, with around 8,600 holders and a market cap just under $400 million. The move to Solana aims to leverage the blockchain's higher transaction speeds and lower costs, which are crucial for retail payments. Additionally, PYUSD on Solana will introduce features for enhanced confidentiality and compliance, utilizing Solana's 'Token Extensions' standards. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Creme-Waste

Not if you use the exchange. The USDC/USD and even PYUSD/USD bundles are 1:1

Drogon__

Regulated stable coins that get audited by reputable firms regularly? Let's see: USDT (their auditors are a little sketchy but alright) USDC (i'll give you that one) GUSD(That barely has any traction and has legal troubles) PYUSD(It's serving only Paypal and it isn't used in DeFi) BUSD(With Binance lawsuits it's almost dead at this point) As you can see there isn't any meaningful competition for a compliant and regulated USD stablecoin.

Xylber

I heard PayPal is offering a PYUSD token that can be exchanged on DeFi, never tried and it looks like they use it to link people to wallets (which is exactly what US exchanges are doing), so, up to you.

Shart4Future2

PayPal has a stable coin that they use internally and externally PYUSD, MasterCard has interest in Consensys and use crypto rails to settle some payments, many banks already use permissioned blockchains. Wal-Mart actually uses a permissioned blockchain for logistical reasons and has sponsored a blockchain school at the University of Arkansas. Those are some that I know of. I won't post a link, but those are all easily Googled and there's a 3 part Freakonomics series about this too.

bbt104

They see Tether as fiat, backed by nothing, and think it's the only stable coin used when buying BTC, they completely ignore Dai, USDC, PYUSD, or even that on exchanges you can spend straight USD or whatever your naitive currency is.

afaylenesky

what chain is PYUSD(paypal usd) is on?

coinfeeds-bot

tldr; PayPal's venture arm invested $5 million in Mesh, a digital assets startup, using its PYUSD stablecoin. Mesh, founded by cybersecurity veterans, is likened to a crypto version of Plaid, facilitating secure crypto-based financial transactions. The investment, partly in stablecoins and partly in cash, aims to support Mesh's growth and contribute to the advancement of embedded finance and native stablecoins. PayPal's PYUSD, launched with Paxos, is part of its strategy to offer more payment options globally. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

bah2nah

Someone smarter than me help answer this question for me please: What’s the benefit for large financial companies like PayPal to issue a stablecoin (PYUSD)? Aside from getting their current users to easily adopt and utilize crypto, does it help increase the corporations bottom line revenue? If so, how?

STP_VEGAS

A lot of jokers on here, but for adoption's sake, sticking with the majors; Bitcoin, Ethereum, Litecoin & Bitcoin Cash, will put in the same zone as PayPal / Venmo, without pigeonholing yourself into the Bitcoin-only ecosystem. I recommend adding Monero and USDC (on Polygon and/or Tron network\*\*) to that list. Monero, because it is cheap to use and even Maxi's like it. It is also a coin for the wealthy. I recommend USDC, because, of the two major stablecoins, it is the most transparent regarding it's peg. Additionally, I mentioned PayPal above and, while it is a new token, PYUSD (PayPal's own USD stablecoin) is also now available. I know of only one wallet that easily handles all of these coins and tokens, as well as many others. That would be the Edge Bitcoin Wallet, which I think would suit your needs very well. You really should familiarize yourself with the inherent value of using your crypto in a self-custodial environment (bankless). It is in this environment that the stablecoins really show their purpose and value. As a final note, Bitcoin is king crypto, for better or worse, but Monero's close relationship with the Bitcoiners, combined with it's incredibly cheap transaction fees, fast settlements and amazing fungibility, make it a very good option for a daily currency. Litecoin and Bitcoin Cash are also very economical and quick. ​ \*\*Both Tron and Polygon networks are far cheaper than the Ethereum network.

After_Sock_3550

My dude. What are you doing. Paypal is one of the worst for cryptocurrency. 1. Paypal spreads are very high as they use a exchange for liquidity and you pay exchange fees **+** Paypal fees. 2. Paypal TOS requires you to buy their stablecoin PYUSD for every crypto purchase and sell PYUSD for every crypto sale. (PYUSD is always the intermediary) so you're again basically doubling up on fees as well as just supporting their stablecoin(check their TOS). 3. Of course, you don't *really* own any crypto on Paypal; it's just a claim on it, especially because again, for every crypto purchase you make it actually as to be routed to an exchange and is walled by having to buy/sell PYUSD first. 4. Paypal fees are absolutely terrible.

Napjubu

The United States Securities and Exchange Commission has recently requested PayPal to provide information regarding the new crypto-token 'PYUSD' which has been rumored to be launching soon. This follows concerns that this stablecoin may not comply with existing securities regulations. The SEC is also reportedly inquiring about any possible involvement of the company in trading digital assets such as Bitcoin and other cryptocurrencies. Several sources, including anonymous insiders, have indicated that PayPal is still in the process of determining how it will respond to these requests. Some analysts have voiced their opinion that the SEC is acting in a manner that could potentially create a precedent for stricter regulations on cryptocurrencies, or even a complete ban on some tokens depending on how they are classified. It remains to be seen what level of regulation will be placed on digital currencies as the investigations continue.

Genevieve2313

# The United States Securities and Exchange Commission has recently requested PayPal to provide information regarding the new crypto-token 'PYUSD' which has been rumored to be launching soon. This follows concerns that this stablecoin may not comply with existing securities regulations. The SEC is also reportedly inquiring about any possible involvement of the company in trading digital assets such as Bitcoin and other cryptocurrencies. Several sources, including anonymous insiders, have indicated that PayPal is still in the process of determining how it will respond to these requests. Some analysts have voiced their opinion that the SEC is acting in a manner that could potentially create a precedent for stricter regulations on cryptocurrencies, or even a complete ban on some tokens depending on how they are classified. It remains to be seen what level of regulation will be placed on digital currencies as the investigations continue.

42326041

Yes. All stablecoins including USDT USDC TUSD PYUSD are just smart contracts and they all have block or freeze function, they can freeze any addresses balance anytime.

iPhooey

Did PayPal just add crypto to their Canada site? US has had it for about a year but as far I know, hadn't been rolled out yet in Canada. What's even crazier is PayPal launched a stablecoin called PYUSD with Paxos, so I don't know how the hell they're going to get away with pushing their own version of a non-custodial stablecoin, being the official onramp, while also limiting accounts, for presumably, *too much activity*? They can argue AML, but the reality is they are punishing you for moving funds too fast (they want you to hold it there so they can invest your idle funds) Hopefully all is not lost, maybe their support will realease your funds in a couple months? At which point, never use their service again lol I'm also doing P2P and abitrage to try to pass the time and make extra change, but you should consider yourself lucky if you're in 🇨🇦 because seems to me they have more on-ramps than the USA, and looks like they're slightly cheaper too? Have you already looked into BitBuy and Bitfinex? Both appear to have 0.1% buyer fees, and CoinSquare, another big exchange, has 0.2% fee. Lastly, isn't Binance still operating up there or did they get shut down?

MarcusStoic

Here are the top news in Crypto from yesterday: 🟠 FTX exploit link moves $17M in ETH, with major portions routed to THORChain and Railgun; amid Sam Bankman-Fried's trial and ETH ETF anticipation. 🟠 Buterin concerned about DAOs controlling ETH staking pools, suggests diversified use of staking providers to reduce systemic risks and monopolies. 🟠 DOJ prepares witnesses for Bankman-Fried trial, focusing on FTX's asset management and client experiences, amidst legal and jury selection debates. 🟠 PayPal's PYUSD stablecoin's circulation surges nearly fivefold in three days, reaching around 61 million coins. 🟠 SEC sues FTX's auditor, Prager Metis, for alleged auditor independence violations, impacting investor trust amid FTX's bankruptcy saga. 🟠 Sui Foundation awards $1.05M grant to 17 projects for DeFi, payment, and infrastructural development, boosting Sui adoption. 🟠 KuCoin's recent asset reserve certificate shows a decrease in BTC, ETH, and USDT assets; with a net outflow of $118M reported over the past month. 🟠 Q3 2023 saw $889M losses in Web3 due to hacker attacks, rugpulls, and phishing, surpassing losses of Q1 and Q2 combined. 🟠 Cygnus Finance integrates Chainlink Price Feeds on Base mainnet for accurate pricing, ensuring stablecoin cgUSD value aligns with underlying assets. :moons: China, Germany pledge to enhance digital finance cooperation and anti-money laundering efforts post high-level dialogue.

MarcusStoic

Here are the top news in Crypto for the past 24 hours: 🟠 FTX exploit link moves $17M in ETH, with major portions routed to THORChain and Railgun; amid Sam Bankman-Fried's trial and ETH ETF anticipation. 🟠 Buterin concerned about DAOs controlling ETH staking pools, suggests diversified use of staking providers to reduce systemic risks and monopolies. 🟠 DOJ prepares witnesses for Bankman-Fried trial, focusing on FTX's asset management and client experiences, amidst legal and jury selection debates. 🟠 PayPal's PYUSD stablecoin's circulation surges nearly fivefold in three days, reaching around 61 million coins. 🟠 SEC sues FTX's auditor, Prager Metis, for alleged auditor independence violations, impacting investor trust amid FTX's bankruptcy saga. 🟠 Sui Foundation awards $1.05M grant to 17 projects for DeFi, payment, and infrastructural development, boosting Sui adoption. 🟠 KuCoin's recent asset reserve certificate shows a decrease in BTC, ETH, and USDT assets; with a net outflow of $118M reported over the past month. 🟠 Q3 2023 saw $889M losses in Web3 due to hacker attacks, rugpulls, and phishing, surpassing losses of Q1 and Q2 combined. 🟠 Cygnus Finance integrates Chainlink Price Feeds on Base mainnet for accurate pricing, ensuring stablecoin cgUSD value aligns with underlying assets. 🟠 China, Germany pledge to enhance digital finance cooperation and anti-money laundering efforts post high-level dialogue.

coinfeeds-bot

tldr; Users can now trade XRP, DOGE, and SOL against PayPal's stablecoin PYUSD on the Crypto.com platform. This partnership between Crypto.com and PayPal allows users to access new trading pairs and expands the offerings of both platforms. PYUSD is a stablecoin issued by Paxos Trust Co. and maintains a fixed value against the US dollar. The addition of these trading pairs may open up new opportunities for users and further integrate cryptocurrencies into mainstream finance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Tattiess

I didn't expected these two coins to be traded against PYUSD to be honest.

Silent_Collection892

What is PYUSD?

coinfeeds-bot

tldr; PayPal and Paxos have partnered with Crypto.com to make it the preferred platform for trading PayPal's stablecoin, PYUSD. Crypto.com has claimed to have the most significant worldwide liquidity for PYUSD trading pairs. Retail and institutional customers can now use PYUSD on the exchange, with advanced trading features coming soon. This partnership strengthens the existing collaboration between Crypto.com and PayPal, and has the potential to expand PayPal's global network. PYUSD is a stablecoin backed by US dollar deposits and runs on the Ethereum blockchain. It is available on various exchanges and has received regulatory approval from the New York State Department of Financial Services. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

IlIlllIIllllIIlI

Please, don’t use PYUSD for your own safety. They can freeze your funds because those coins aren’t yours and **never will be**. Read the terms of use revolving around that, this is a big red flag.

shamsuddin6272

But PYUSD have some restrictions in it contracts they can freeze your balance and they can revert transactions

teh_d3ac0n

And tomorrow the zero fees pair of BTC will be the BTC/PYUSD *surprised Pikachu face*

Red_n_Rusty

PYUSD seems to be yet another branded stablecoin from Paxos. Their dollar based stablecoins now include PYUSD, USDP and BUSD. Paypal's branding and integration are sure to drum up hype but I doubt this will be anything too revolutionary. Cryptocom's exchange is and has been solid although the withdrawal fees are not always that low. It seems like the exchange has been seeing some healthy trading volumes in recent times.

JugobetrugoN1

Not a fan of PYUSD but for crypto in general, its good news

cassiopeiamedusa

whhhhhhaaatttt.... why did paypal choose [crypto.com](https://crypto.com) as their [preferred exchange](https://news.bitcoin.com/paypal-selects-crypto-com-as-preferred-exchange-for-pyusd-stablecoin/) for their newly launched stablecoin PYUSD :O

Affectionate_Hand_76

Reminder to everyone that PYUSD is a centralized coin, the contract can be edited any time and your funds be frozen (blacklisted)or even wiped out.

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal to become the preferred exchange for PayPal USD (PYUSD). Since listing PYUSD on its platform, Crypto.com has amassed the deepest liquidity for PYUSD trading pairs globally. The partnership will allow Crypto.com to explore more top-up and commercial capabilities for users. PYUSD has been made available on several major exchanges and crypto wallets since its launch, and PayPal's mobile payments app, Venmo, will soon allow users to buy and send PYUSD for free. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal to become the preferred exchange for PayPal USD (PYUSD). Since listing PYUSD on its platform, Crypto.com has amassed the deepest liquidity for PYUSD trading pairs globally. The partnership will allow Crypto.com to explore more top-up and commercial capabilities for users. PYUSD has been made available on several major exchanges and crypto wallets since its launch, and PayPal's mobile payments app, Venmo, will soon allow users to buy and send PYUSD for free. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal and Paxos to become the preferred platform for managing PayPal's stablecoin, PYUSD. This collaboration expands on the existing partnership between Crypto.com and PayPal, and highlights the increasing integration between traditional finance and the cryptocurrency ecosystem. PYUSD is fully backed by U.S. dollar deposits and has gained traction on major cryptocurrency exchanges. Hong Kong is also preparing for stablecoin regulation, with plans to establish guidelines for stablecoin issuers by mid-2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal and Paxos to become the preferred platform for PayPal USD (PYUSD) trading. The exchange currently has the deepest liquidity for PYUSD trading pairs globally and has listed PYUSD for retail and institutional users. This collaboration builds on the previous partnership between PayPal and Crypto.com, and further strengthens the integration between the two platforms. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

teh_d3ac0n

And PYUSD will become crypto.com preferred stablecoin

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal and Paxos to become the preferred platform for PayPal USD (PYUSD) trading. The exchange currently has the deepest liquidity for PYUSD trading pairs globally and has listed PYUSD for retail and institutional users. This collaboration builds on the previous partnership between PayPal and Crypto.com, and further strengthens the integration between the two platforms. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal and Paxos to become the preferred platform for PayPal USD (PYUSD) trading. The exchange currently has the deepest liquidity for PYUSD trading pairs globally and has listed PYUSD for retail and institutional users. This collaboration builds on the previous partnership between PayPal and Crypto.com, and further strengthens the integration between the two platforms. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Kappatalizable

CDC would be giving away those PYUSD by mistake and then sue the recipients again

coinfeeds-bot

tldr; Crypto.com has partnered with PayPal and Paxos to become the preferred platform for PayPal USD (PYUSD) trading. The exchange currently has the deepest liquidity for PYUSD trading pairs globally and has listed PYUSD for retail and institutional users. This collaboration builds on the previous partnership between PayPal and Crypto.com, and further strengthens the integration between the two platforms. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

teh_d3ac0n

Tomorrow on [Crypto.com](https://Crypto.com): 0% fees on BTC/PYUSD trading pair

conceiv3d-in-lib3rty

Last week people were saying PYUSD was a dead stablecoin..

-_-DarthVader

True, a stable coin especially like PYUSD will have many preferred exchanges, it's just marketing. Maybe pump those CRO bags in the process.

AntonietteK

An increased supply of $PYUSD makes it more easier for people to accumulate more of this coin. It's a good time to accumulate more of it on large exchanges as #Bitget. Demand on this stablecoin will soon be on the rise.

desmonddesk

Despite Tether's ongoing success and lack of indications of any issues, it could take a while for $PYUSD to outshine it. Nevertheless, PayPal will have a much more extensive use case as a stablecoin. Maybe the reason major Exchanges are listing it without hesitation. Even Bitget recently listed it.

Bashir_Jasper03

Yeah, I believe Frax has been one huge success imo. But the launch of PYUSD is also gonna help the adoption of Frax and blockchain payment solution. I believe the ball has been set rolling already and the wave is gradually picking pace

ricozuri

Contrary to article, PYUSD is already listed on 21 exchanges according to CoinGecko. Not that it means we’ll use it.