PayPal to Issue Dollar-Pegged Crypto Stablecoin Based on Ethereum and Issued by Paxos

“The shift towards digital currencies requires a steady instrument that’s each digitally native and simply related to fiat foreign money just like the U.S. greenback,” mentioned Dan Schulman, president and CEO of PayPal, in a press assertion. “Our dedication to accountable innovation and compliance, and our observe document delivering new experiences to our clients, gives the muse essential to contribute to the expansion of digital funds by way of PayPal USD.”