The market value of PayPal’s stablecoin increased by 70% from the previous month to US$290 million
The market value of PayPal's stablecoin PYUSD has exceeded 290 million US dollars, an increase of 70% from last month, which has made PayPal one of the top ten stablecoin issuers.
PayPal deposits $132,000 in voting rewards on Votemarket to increase PayPool liquidity on Curve
Stake DAO announced on X platform that PayPal deposited $132,000 worth of PYUSD on Votemarket as a voting reward to increase PayPool's liquidity on Curve.
The total circulation of PayPal’s US dollar stable currency PYUSD exceeds 250 million
According to data on the blockchain, PayPal's stablecoin, PayPal USD (PYUSD), has currently issued a total of 264 million coins, with a total of 4761 holding addresses and 26181 transactions on the blockchain.
Yellow Card adds support for stablecoin PYUSD
Yellow Card announced the addition of support for the USD stablecoin PYUSD (PayPal USD), becoming the first African fintech company to support the stablecoin. PYUSD is a stablecoin launched by global payment service provider PayPal, pegged to the US dollar at a 1:1 ratio. Yellow Card users can now buy, sell, and transfer PYUSD without a PayPal account.
PayPal Stablecoin Listed on Philippine Exchange PDAX
PayPal's stablecoin has been launched on the Philippine exchange PDAX.
SEC Requests Documents Related to PayPal's Stablecoin Amid Regulatory Actions
PayPal has confirmed that the SEC has requested documents related to its PYUSD stablecoin, which is co-managed by Paxos. This move marks the latest regulatory action taken by the SEC against the crypto industry, following its lawsuit against the Binance-brand BUSD stablecoin. The PYUSD stablecoin was launched by PayPal during the "crypto winter" and is used for on- and off-platform transactions. Some observers have criticized the SEC for "picking winners" in the crypto industry, as the Howey Test's vagueness could potentially classify anything that leads to profit as a securities offering.
PayPal promotes Archie Deskus to CTO, the original CTO will leave at the end of the year
On November 2nd, payment giant PayPal announced the promotion of Archie Deskus to the position of PayPal Executive Vice President and Chief Technology Officer (CTO). She will be responsible for overseeing PayPal's global technology, engineering, and information organization. In addition to supporting PayPal's technology strategy, priorities, and data-driven operational model, Archie will also lead the planning, management, delivery, and transformation of PayPal's technology stack, system support, and infrastructure. Deskus has been serving as PayPal Executive Vice President and Chief Information Officer (CIO) since March 2022. Sri Shivananda, who previously served as PayPal Executive Vice President and Chief Technology Officer, will be leaving PayPal at the end of this year.
Market News: PayPal’s USD Stablecoin Receives U.S. SEC Subpoena
On November 2nd, according to @News_Of_Alpha on social media, PAYPAL HOLDINGS INC received a subpoena from the enforcement division of the US Securities and Exchange Commission (SEC) regarding PayPal's USD stablecoin on November 1st.
PayPal: Revenue in the third quarter was US$7.4 billion, a year-on-year increase of 9%
PayPal recently released its Q3 earnings report, which showed that the company's revenue for the quarter was $7.4 billion, a 9% increase year-on-year at fixed exchange rates, exceeding market expectations. Adjusted earnings per share were $1.30, better than the market's expected $1.23, and total payment volume increased 13% at fixed exchange rates.
PayPal Obtains Registration as Official Crypto Service Provider from UK's FCA
PayPal UK Limited has been granted registration as a crypto service provider by the UK's Financial Conduct Authority (FCA), allowing the company to offer a range of cryptocurrency services to the UK market. The registration process requires companies to adhere to strict anti-money laundering protocols, demonstrating PayPal's commitment to regulatory standards. This move strengthens PayPal's position as a global leader in digital payments and provides British users with a trusted name in the volatile cryptocurrency market. The FCA's decision also suggests a promising future for other potential entrants in the market.
