A few days ago, PayPal announced the launch of the US dollar stable currency PYUSD. The contract is built on the Ethereum chain, with a total supply of 26.9 million coins and a 1:1 US dollar endorsement. Qualified US PayPal users purchasing PYUSD will be able to:
1. Transfer PYUSD between PayPal and compatible external wallets
2. Send peer-to-peer payments using PYUSD
3. Select Use PYUSD at checkout
4. Convert any cryptocurrency supported by PayPal to PYUSD
Paxos is the company that issues PayPal USD, and it is the company that previously cooperated with Binance to issue BUSD. It will also publish public third-party proof of the value of the PYUSD reserve asset.
What kind of company is Paypal?
San Jose, California-based Internet third-party payment service provider, Nasdaq: PYPL, allows the transfer of funds between users who use email to identify themselves, avoiding the traditional mailing of checks or money transfers Methods. PayPal also cooperates with some e-commerce websites and becomes one of their payment methods; it can be understood as Alipay.
Highlights:
A. In 2000, Confinity merged with X.com founded by Elon Musk. In 2001, X.com was renamed PayPal. Yes, you read that right. Paypal was co-created by Elon Musk. Musk is also the boss of Twitter. In the future, both Paypal and Twitter will become big killers for attracting Web3 traffic in the future.
B. In 2002, PayPal was listed on Nasdaq for the first time. It was later acquired by eBay. At the beginning, Jack Ma's Alibaba was imitating eBay.
C. There are about 430 million users worldwide, ranking 33rd in the 2019 Forbes Global Digital Economy Top 100. If users of this size enter the currency circle, it will bring huge buying volume.
This time Paypal launched the stablecoin PYUSD, opening a legal and compliant channel for compliant regulars to enter the currency circle. Users can exchange PYUSD through Paypal to purchase cryptocurrencies. Recently, major exchanges including Binance have announced the opening of PYUSD, which is to Best support for this matter. A large number of users, convenient purchasing channels, Musk standing behind it, and legal compliance will bring unprecedented growth to the currency circle. This bull market is bound to achieve great results.
