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PayPal Launches U.S. Dollar Stablecoin
- colesantiago 3y agoPayPal is already very unpopular in the US, merchants hate them, and given the regulatory environment for crypto in the US this doesn't make any sense. Nobody is going to use this at all, except fraudsters and scammers to which PayPal accepts with open arms.
- h2odragon 3y ago> PayPal USD is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company. Convert any of PayPal's supported cryptocurrencies to and from PayPal USD Where "supported" seems to be Bitcoin, Ethereum, Litecoin, Bitcoin Cash
- jqpabc123 3y agoSo I can pay with fiat ... or I can pay with crypto ... with additional fees and exchange rate games. Let's see, which one should I choose? The word "crypto" is working hard to become synonymous with "scam" in the public's mind..
- eva_cananim 3y agoAll the articles that I have seen so far have not adequately explained how it works. Paypal says it is an "ERC-20 token issued on the Ethereum blockchain". From reading the paypal website, it sounds like people in the USA can buy it or change it back to USD and can send it to anyone with an etherium wallet?
- tornato7 3y agoCorrect - you can interact with it from any Ethereum wallet, and mint/redeem it within the PayPal app.