No, this isn’t a post from last year. PayPal announced Monday that it was diving deeper into the crypto world, becoming the first major US financial institution to launch its own stablecoin for use in both payments and transfers.
PayPal has allowed users to buy and exchange cryptocurrencies since 2020, and checkouts to be completed with businesses since 2021. But the launch of their own coin is a wholly different matter, especially one with a value tied to external assets. Meta halted similar plans last year, and stablecoins themselves have undergone significant scrutiny since many proved themselves to be unable to live up their namesake, plummeting in value. And a judge recently confirmed Terraform Labs must face allegations from the SEC for the collapse of its TerraUSD stablecoin last year.
CHUCKYSCARNAGE 