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[Yugocean]

PYUSD is a USD-based stablecoin issued by the US money processor PayPal.

PayPal issued PYUSD on the Ethereum network on August 7, 2023. This has given the stablecoin market a new competitor.

Experts in the financial world consider Paypal reliable, but experts in the crypto world believe that the issuance of PYUSD by Paypal is an attempt to establish its centralised dominance in the blockchain.

What is your view on PYUSD?
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[GadliB22]

Looking in from the outside - This will serve both worlds centralized and decentralized.
PayPal's balance sheet and market dominance will grow , and the decentralized who do not want to use banks fro crypto transaction will be able to utilize PayPal's crypto services.

 

[Yugocean]

PayPal is not a bank, I agree, but it is not a privacy centred either. You need bank too to use PayPal, you cannot remove your bank, not you are able to verify without it. Anyway if you are fine using PayPal for purchase, it might work.

 

[Yugocean]

Listed in KuCoin
PYUSD is now accepted by popular exchange Kraken; the platform has listed it with two fiat trading pairs (USD and EUR). PYUSD is also available in Uniswap V3, Bitmart, and SuperEx only.

 

[Yugocean]

PYUSD levels rose

• PYUSD's reserve is more than $44 million, according to its issuer, PAXOS, while $43 million RR is estimated by the US Treasury.
• Crypto.com's Earn programme, Earn Plus, has also attracted PYUSD hodlers by announcing an annual intrest of 5.25%.

 

[Yugocean]

PYUSD Listed on Kucoin

$PYUSD is available on Kucoin. ERC20 network is supported for the transfer of $PYUSD. Trading will begin on September 21 at 10 am (UTC), at the moment, only USDT is available for trading with PYUSD.

 

[Yugocean]

Listed on Venmo
PYUSD stable coin is now available on Venmo. Some people are considering this as the increasing influence of PYUSD, but Venmo is a subsidiary of PayPal and PYUSD is also the property of PayPal.

 

[Yugocean]

Crypto dot com is high on PYUSD

According to some reports, exchange Crypto dot com owns the highest liquidity PYUSD. This is related to exchange's partnership with PayPal that allows Crypto dot com visa card.

 

[cmoneyspinner]

I am not happy with treatment I received from PayPal. I should say the "mistreatment". I had a business account for at least 10 years. I got scammed and instead of PayPal truly reviewing the case, it looked like the buyer had their "Buyer Protection Plan". Because of that PayPal sided with them, my account went into the negative, and they turned my over to a collection agency. All those years to build my reputation and credit, down the drain. I am still a little ticked off by that experience and because of it I am not willing to support their crypto coin endeavor. PYUSD is on Conbase. Maybe after I get over it … I'll explore its possibilities. I have to calm down first.

 

[zeljko]

Maybe we could exploit this situation. PYUSD could achieve price even more than 1$. This happend already with USDT in 2017 when price was 1.05$. This could happend with PYUSD and we could earn on difference.
Also do you think PYUSD will take over USDT on market?

 

[Yugocean]

SEC sends subpoena
The US SEC has send subpoena to PayPal for PYUSD stablecoin. However, this did not affected PayPal, instead the company shares jumped to 7%. Yet PayPal will have to deal with subpoena.

 

[GoldenLady]

I wouldn't trust a centralized agency withy coins, especially with the reputation that PayPal has. While it may ease transactions of cryptocurrency for its users, is it truly going to be the best solution in the future?

 

[Riberet19]

I hope that PayPal can propel PYUSD to new heights, because as far as I know, it has not yet had much acceptance, also it is facing regulations by the SEC does not help much that it can progress, we will see how PayPal deals with such regulations ...

 

[IB DD]

I won't be able to trust the transparency of PYUSD because PayPal as a financial institution has not really demonstrated efficiency with reckless banning of user accounts on it's main PayPal platform. And moreso, they are control freaks who I don't think would change because they just entered crypto.