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Search "PYUSD" has a total of9related results
Techub News reports that the Aave community has received a proposal from Sentora to operate an independently curated lending market on Aave V4. The initial market will be deployed on Ethereum, and the first batch will support lending of stablecoins such as RLUSD, PYUSD, and OUSD. According to the proposal, Sentora will independently determine market parameters such as collateral assets, limits, and interest rate curves. Existing Aave risk service providers will not be responsible for monitoring this market. Sentora proposes allocating 50% of the protocol revenue (including reserve factor revenue and liquidation fees) to the Aave DAO, while the Aave DAO retains contract ownership and upgrade rights. The proposal is currently in the community feedback stage and will need to be approved through Snapshot and on-chain governance voting. (WuBlockchain)
Techub News reports, according to Fortune, PayPal announced the addition of 68 new countries and regions to the wallet holding scope of its stablecoin PYUSD, bringing the total number of accessible markets to 70, previously limited to the United States and the United Kingdom. Newly added markets include Uganda, Colombia, Peru, among others, covering more areas in South America, Africa, and Asia. This expansion aims to enhance the global availability of PYUSD, supporting cross-border payments and the use of digital assets.
Techub News, stablecoin issuer Paxos tweeted that at 3:12 PM ET, Paxos mistakenly minted excess PYUSD during an internal transfer process. Paxos immediately identified the error and burned the excess PYUSD. This was an internal technical error. There was no security breach. Customer funds are safe. The root cause has been resolved.
Techub News: According to CoinDesk, PayPal has partnered with decentralized finance platform Spark, planning to expand PYUSD deposits from the current $100 million to $1 billion in the coming weeks through Spark's lending platform, SparkLend. This integration allows users to deposit and borrow PYUSD, with its liquidity supported by Spark's up to $8 billion stablecoin reserve pool.
Techub News: According to The Block, PayPal's stablecoin PayPal USD (PYUSD) is expanding to multiple blockchain networks including Tron, Avalanche, and Sei through integration with LayerZero's Stargate Hydra cross-chain bridge. Issued by Paxos Trust Company, PYUSD initially launched natively on Ethereum before expanding to Solana and Arbitrum, with Stellar added just yesterday. LayerZero stated on Thursday that with this expansion, a permissionless version of the token called "PYUSD0" will be introduced to seven additional blockchain networks, including Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron. Additionally, the existing cross-chain versions of PYUSD on Berachain and Flow will also be upgraded to PYUSD0.
Techub News, WalletConnect announces that its payment infrastructure WalletConnect Pay has integrated PayPal USD (PYUSD), allowing users to pay directly with PYUSD in their wallets at merchants that support the network, without the need for additional conversion or bridging steps. PYUSD is issued by Paxos Trust Company and is 1:1 backed by U.S. dollar deposits and short-term U.S. Treasury bonds. It has been deployed on mainstream networks such as Arbitrum and Ethereum. Users can now spend stablecoins directly at merchants connected to the network via self-custodial wallets like MetaMask, and merchants can receive funds without modifying their existing workflows.
Techub News reports, according to Cointelegraph, PayPal, in collaboration with MoonPay and the stablecoin platform M0, has launched PYUSDx, a tokenization and issuance framework that allows developers to create stablecoins backed by PayPal USD (PYUSD) and pegged to the US dollar for use within specific applications, platforms, or ecosystems. The product is scheduled to officially launch next month. PYUSDx is provided by MoonPay Digital Assets, operates independently of the native PYUSD, and enables developers to quickly launch brand-customized, cross-chain supported, and reserve-transparent stablecoins without having to build infrastructure from scratch. Currently, the DeFi protocol USD.ai has become the first developer to utilize this platform to build a stablecoin dedicated to AI infrastructure. It is important to note that PYUSDx tokens and PayPal USD are independent of each other and cannot be directly used, sent, or stored in PayPal or Venmo accounts.
Techub News reported, according to AMBCrypto, PayPal, MoonPay, and M0 detailed the PYUSD collateral issuance mechanism via PYUSDx, which separates reserves from consumer accounts. Compared to USDC and USDT, it offers faster launch speed but also involves some trade-offs.
Techub News reports, according to The Block, Interactive Brokers now supports traders using USDC to fund their accounts around the clock. This functionality is powered by Zerohash, a B2B crypto and stablecoin infrastructure provider in which Interactive Brokers has invested. Users can send USDC from their personal crypto wallets to a secure wallet generated by Zerohash on Ethereum, Solana, or Base, after which the tokens will be automatically converted to U.S. dollars and deposited into their brokerage accounts. A conversion fee of 0.30% (minimum $1) will be charged per deposit. Furthermore, Interactive Brokers plans to add more stablecoin options as early as next week, including Ripple's RLUSD and PayPal's PYUSD.
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