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PayPal Stablecoin (PYUSD) Made Available on Solana Blockchain

The Fintech Times

PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. The news was announced at Consensus 2024 , the long-running cryptocurrency, blockchain and web3 event. PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company.

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PayPal’s Stablecoin Joins Solana: Impact on Consumers and Banks Explained

Finovate

PayPal’s stablecoin, PayPal USD (PYUSD), was officially added to the Solana Blockchain last week. This shift comes after the California-based company launched on Ethereum blockchain last summer. Now, PayPal stablecoin users can send PYUSD on Ethereum or Solana when transferring out to external wallets.

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StraitsX is Bringing Real-World Stablecoins to the Singapore Mainstream

Fintech News

Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.

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PEXX Acquires Blockchain Media Platform Chain Debrief After US$4.5M Raise

Fintech News

PEXX, a fintech startup specialising in stablecoin cross-border payments, has acquired Singapore-based blockchain media platform Chain Debrief. PEXX said that the goal is to provide users with updated information on blockchain technology, cryptocurrencies, and regulatory developments, enhancing their decision-making process.

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Societe Generale-FORGE Partners with Bitpanda to Promote Stablecoin Adoption Across Europe

The Fintech Times

Societe Generale-FORGE (SG-FORGE), a regulated subsidiary of Societe Generale, has forged a long-term partnership with Bitpanda, a European cryptocurrency broker, to promote the use of digital assets across Europe. This enables European investors to trade the stablecoin alongside other cryptocurrencies as well as traditional assets.

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DBS’ Crypto Arm Reports Tripling Trading Volume, Explores Stablecoin Listings

Fintech News

The surge in activity coincides with an approximate 50% increase in the overall market capitalisation of cryptocurrencies during the same period. DBS was recently selected by blockchain and tokenisation infrastructure platform Paxos as its primary banking partner for cash management and custody of stablecoin reserves.

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Xoom Users Can Now Use PayPal’s Stablecoin for Cross-Border Transfers

Fintech News

customers to utilise PayPal USD (PYUSD) , a stablecoin pegged to the U.S. dollars within their PayPal Cryptocurrency Hub and send it to recipients in about 160 countries without incurring Xoom ‘s transaction fees. Xoom, a subsidiary of PayPal specialising in cross-border money transfers, has enabled U.S. Enabling U.S.