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PayPal's PYUSD Stablecoin Launch Marks "Watershed Moment" for Regulated Stablecoins, Says Partner Paxos

PayPal's launch of its own stablecoin, PYUSD, is a significant moment for bringing regulation to the stablecoin space. Unlike other stablecoins, PYUSD is overseen by a prudential regulator and customers' assets are protected against bankruptcy. Paxos, PayPal's partner on the project, highlights the difference in regulation and protection that comes with being a trust company regulated by the New York Department of Financial Services. While Tether and Circle remain dominant players in the stablecoin market, PYUSD could become a worthy competitor to USDC.

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