PayPal has introduced a new stablecoin called PayPal USD (PYUSD), which will be backed by US dollar deposits and other cash equivalents. The stablecoin will be issued by Paxos Trust Co. and will soon be available to US customers. The company had previously announced its plans to launch a stablecoin in January 2022 and is working closely with regulators to ensure compliance.
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PayPal Launches New Crypto Stablecoin Backed by US Dollars
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Binance will launch SLERFUSDT and SCRTUSDT perpetual contracts
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The country's first digital RMB-based intellectual property securitization product was successfully issued
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BTC breaks through $67,000
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Hong Kong Legislative Council Member Tam Yue-heng: Accelerate the issuance and trading of stablecoins that match the characteristics of the linked exchange rate system
Tan Yueheng, a member of the National Committee of the Chinese People's Political Consultative Conference and the Legislative Council, published an article entitled "Consolidating the Status of Financial Center and Sharing the Dividend of Deepening Reform". In it, he pointed out that in the field of digital finance, the SAR government must continue to develop digital finance and qualified virtual products, explore new beneficial financial formats, and promote the new productive forces of the financial industry. Hong Kong must promote the participation of financial technology companies in the stable coin sandbox mechanism, accelerate the issuance and trading of stable coins with the characteristics of matching linked exchange rate system, expand the testing scope and landing scenarios of digital RMB as a cross-border payment tool, and focus on developing products that are linked to virtual assets and underlying real assets, transforming art, real estate, equity, and carbon emissions into digital tokens through blockchain technology. -
Stablecoin minting protocol M^0 completes $35 million Series A financing, led by Bain Capital
Stablecoin minting protocol M^0 completed a Series A financing round of $35 million, led by Bain Capital with participation from Galaxy Ventures, Wintermute Ventures, and GSR. Previously, M^0 raised $22.5 million in seed funding led by Pantera Capital in early 2023.
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