PayPal’s introduction of a U.S. dollar-pegged stablecoin opens the door to a wider discussion of where the digital offerings’ place lies within commerce. As has been reported, on Monday (Aug. 7), the company launched the stablecoin, to be issued by Paxos Trust, in a bid...
PayPal is reportedly pausing its stablecoin project amid heightened scrutiny around the cryptocurrency industry. The payments company had wanted to unveil the stablecoin in the next few weeks, Bloomberg News reported Friday (Feb. 10), citing a source familiar with the matter. A company spokesperson told...
Paxos Trust is reportedly being investigated by the New York State Department of Financial Services (NYDFS). It is not known why the issuer of the Pax Dollar (USDP) and a Binance-branded BUSD stablecoins is being investigated, Bloomberg reported Thursday (Feb. 9). The NYDFS began the...
Binance’s stablecoin was reportedly undercollateralized at times during 2020 and 2021. Bloomberg reported Tuesday (Jan. 10) that the Binance-Peg BUSD reserves were at three separate times missing collateral of as much as $1 billion. The cryptocurrency exchange’s token is meant to have its value backed...
July 02, 2024
Singapore’s DBS Bank is reportedly set to begin a custody service for stablecoin reserves. It’s part of a collaboration between the city-state’s largest lender and a local unit of cryptocurrency issuer Paxos Trust, Bloomberg News reported Tuesday (July 2), with the partnership also including cash management services. An official from the bank told Bloomberg this move will deepen its […]
February 12, 2023
PayPal is reportedly pausing its stablecoin project amid heightened scrutiny around the cryptocurrency industry. The payments company had wanted to unveil the stablecoin in the next few weeks, Bloomberg News...
February 10, 2023
Paxos Trust is reportedly being investigated by the New York State Department of Financial Services (NYDFS). It is not known why the issuer of the Pax Dollar (USDP) and a...
January 10, 2023
Binance’s stablecoin was reportedly undercollateralized at times during 2020 and 2021. Bloomberg reported Tuesday (Jan. 10) that the Binance-Peg BUSD reserves were at three separate times missing collateral of as...
