PayPal issued stablecoin, on Stellar, pegged 1:1 to the US dollar, (stellarbelarus.com) Issuser Address: GCWNY7C67QF44H7JI7FBYUYBGZ6HSSANZPWN7SUK6BAKWDS3YHU4UIED ICO On 12/06/2024 CB:20,000%
Asset Matrix: ☀️ Project Aurora & Ukaz (https://t.me/QuantumStellarInitiative/21777)
PayPal Officially Launches PYUSD on Stellar Blockchain ⚠️
In a groundbreaking move to further solidify its position in the digital currency space, PayPal has launched its stablecoin, PYUSD, on the Stellar (XLM) blockchain. This strategic expansion marks a significant step in enhancing the efficiency and accessibility of digital payments across the globe
Issued by Paxos Trust Company, PayPal USD (PYUSD) is pegged 1:1 to the US dollar and their reserves are audited regularly by 3rd party firms. PYUSD is primarily used within the PayPal ecosystem, although it can be transferred to external wallets and platforms that support it
Estimated Timeline and Future Developments
The rollout of PYUSD on the Stellar blockchain will occur in several phases, ensuring a smooth transition and adoption:
2025 Technical Integration: Initial phase focused on integrating PYUSD with Stellar’s infrastructure, ensuring compatibility and security
Q1 2026 Pilot Programs: Launching pilot programs with selected partners such as QSI to test and refine the functionality and user experience
END 2026 Full Deployment: Gradual expansion to PayPal’s broader user base, enabling widespread access and utilization of PYUSD on Stellar
ONGOING Improvements: Continuous monitoring and enhancement of the system to incorporate user feedback and emerging technologies
After technical integration and pilot test are completed, purchasing, selling, and hodling Stellar (XLM) directly on PayPal or Venmo will become more straightforward and accessible, enhancing the overall user experience by providing a seamless, one-stop solution for managing digital assets. Stellar XLM listing on both platforms will also likely increase liquidity and trading volume for XLM, fostering greater adoption and utility of Stellar’s network
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