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🇦🇪 Paxos introduced a stablecoin regulated in the UAE - Lift Dollar (#USDL).

“Lift Dollar (USDL) is the first stablecoin that brings daily income to its holders.” (blog)

The first clients are residents of Argentina (via Ripio, Buenbit and TiendaCrypto).

Paxos is the issuer of PayPal's stablecoin (#PYUSD) + previously minted #BUSD.

IMAISFNU
@Сryptoz ₿

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🤔 Forbes: "Bitcoin is becoming part of traditional finance."

▫️More than 1,000,000 BTC are controlled by Bitcoin ETF issuers around the world.

▫️Over time, managing financial affairs using blockchain technologies will become more efficient, secure and useful than through a bank.

▫️The ENTIRE traditional financial system is preparing for change (TradFi).

▫️In March, investment giant BlackRock launched its first "tokenized fund".

▫️Large banks and payment systems are diving into the crypto industry - PayPal has already created its own stablecoin #PYUSD.

▫️Mastercard, JP Morgan, Citibank and others are experimenting with #RWA to optimize cross-border payments.

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@Сryptoz ₿

❗️SEC stopped investigating PayPal’s activities (report)

In November 2023, the SEC sued PayPal because of the stablecoin #PYUSD

@Сryptoz ₿

🤝 #XLM Payment giant PayPal will launch its stablecoin #PYUSD on the Stellar blockchain - announcement

@Сryptoz ₿

#pyusd
🎉 PayPal has officially introduced PayPal World, a global platform that will combine the largest payment systems and digital wallets.

@Сryptoz ₿

🎉 PayPal has announced the «Pay with Crypto» option, which allows online stores to accept payments in more than 100 cryptocurrencies right on the checkout page! (Fortune)

- in the coming weeks, the function will be available to all American merchants.

- crypto payment is automatically converted into stablecoin #PYUSD or US dollar and goes to the seller instantly.

@Сryptoz ₿

🧐 Coinbase and PayPal bypassed the GENIUS law and continue to pay 4-5% per annum to #USDC and #PYUSD holders.

Although GENIUS prohibits stablecoin issuers from calculating profitability, crypto giants have found a loophole.

How it works:

✦ USDC issues Circle, and Coinbase simply accrues «rewards» without calling them interest.

✦ PYUSD releases Paxos, and PayPal allegedly only «provides access to the program».

The ban applies to issuers, not platforms that issue remuneration on behalf of partners or from profits on placed assets.

Critics believe that «yiel» and «remuneration» are the same, but legal wording allows you to circumvent the law.

@Сryptoz ₿