রবিবার, ০৭ জুলাই ২০২৪, ০৮:৪৭ পূর্বাহ্ন
PayPal has launched a new cryptocurrency that is tied to and backed by the US dollar.
PayPal USD, issued by Paxos Trust Company,
is a type of digital currency called a stablecoin,
which differs to other cryptocurrencies like bitcoin as their values are tied to traditional fiat currencies like dollars, pounds or euros.
“The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the US dollar,” said PayPal chief executive Dan Schulman.
“Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers,
provides the foundation necessary to contribute to the growth of digital payments through PayPal USD.”
The new crypto token will roll out first to US PayPal customers,
offering the ability to send and transfer PayPal USD to other people,
as well as fund purchases when checking out at online stores.
