Bitcoin Is Hitting All-Time Highs Around the World
The U.S. economy and its dollar has enjoyed relative strength over the past few years.
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About PYUSD
PayPal USD (PYUSD) is PayPal’s stablecoin, issued by Paxos. Fully backed and regulated | 1 USD : 1 PYUSD
Regulation and Transparency
Paxos-issued stablecoin PYUSD – and its reserves – are subject to strict regulatory oversight by the New York Stat Department of Financial Services. Reserves are held 100% in US dollar deposits, US treasuries and cash equivalents – meaning that customer funds are available for 1:1 redemption with Paxos. Customer assets are also protected from bankruptcy and fully segregated from corporate assets. The Paxos-issued reserve reports and attestations for PayPal USD are published monthly. Attestation reports are issued by WithumSmith+Brown, PC, an independent third-party accounting firm. Withum’s examination is conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA).
PYUSD & Stablecoin Overview
PYUSD is a USD-backed stablecoin on the Ethereum blockchain. Stablecoins are a type of cryptocurrency designed to have a steady value over time relative to a reference asset, for example, the U.S. dollar. They can provide inclusive, broad access to the financial system and can enable fast and efficient money movement. Stablecoins are programmable, offering developers a useful digital currency that can be built into public blockchains and can help link the traditional economy and Web3.
About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
About Paxos
Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way. For more information, visit paxos.com.
The U.S. economy and its dollar has enjoyed relative strength over the past few years.
Other stablecoins such as USD Coin may benefit from the coming regulatory crackdown and gain market share, the report said.
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CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.
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