Crypto Biz: PayPal’s stablecoin goes live, Bitstamp seeks capital, and Coinbase’s L2
This week’s Crypto Biz explores PayPal’s stablecoin, Coinbase’s new layer 2 network, Bitstamp’s fundraising and the growing popularity of crypto bots on Telegram.
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US House Financial Services Committee leadership takes opposing sides on the PayPal stablecoin
Rep. Maxine Waters said she was “deeply concerned” about the PYUSD without a proper regulatory framework in place, while Rep. Patrick McHenry said it "hold[s] promise".
PayPal’s PYUSD Stablecoin: Tether’s Paolo Ardoino and Industry Experts Comment
Payments giant PayPal is launching its own stablecoin, and the move has got both traditional fintech players as well crypto firms excited. Dubbed ‘PYUSD,’ the stablecoin is built on Ethereum…
PayPal Launches USD Stablecoin For Payments and Transfers
Global payments giant PayPal has deepened its footsteps into the crypto industry by launching a dollar-backed stablecoin dubbed PayPal USD (PYUSD). The move makes PayPal one of the first large…
Breaking: Paypal launches stablecoin for payment
Payment processing giant PayPal started crypto payments in March 2020 and since then has been actively involved in the crypto payment sector.
PayPal Ventures Leads $52M Funding Round for Web3 Firm Magic
San Francisco-based wallet-as-a-service (WaaS) provider Magic has raised $52 million in a strategic funding round led by PayPal Ventures bringing the firm’s valuation to just under $500 million. Other participants…
Money stored on mobile payment apps may not be FDIC insured, US watchdog warns
Deposits on mobile payment apps may not be insured by the FDIC, and customers may not know whether their money is insured or not.
Web3 developer Magic raises $52M in funding led by PayPal Ventures
The company has raised $80 million for wallet development since its inception in 2020.
MetaMask rolls out ETH purchases via PayPal to US users
Users in the United States can also transfer ETH from PayPal to MetaMask. The companies first announced their collaboration in 2022.
PayPal’s crypto holdings increased by 56% in Q1 2023 to nearly $1B
The lion’s share of the fintech’s held cryptocurrency assets lie in BTC and ETH with $499 and $362 million respectively — up more than 56% since Q4 2022.
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