PayPal to roll out Cryptocurrencies Hub for select users
Launching a brand-new coin could seem dangerous given the continuous ambiguity surrounding how stablecoins should be audited and the disclosures and reporting that should go along with these instruments. That may be the case, but PayPalPYPL -2% has already acted in this manner. On August 7th, Paypal revealed that it would introduce its own native stablecoin (PYUSD) for usage in business and consumer transactions. On the surface, this would seem like a strange decision for a corporation whose primary function is processing fiat transactions, but it ignores the fact that PayPal has been actively participating in the cryptocurrency space for a long time. PayPal first allowed consumers to buy and sell specific select crypto assets on the platform through agreements with the crypto industry dating back to 2014; this then developed into allowing certain payments to be made in these specific select crypto assets. fundamental change in how data is conveyed between two or more parties Unf...