CoinDesk reported:
“PayPal USD (PYUSD), a U.S. dollar stablecoin issued in collaboration with Paxos Trust Co., is a significant development in the digital finance landscape,” Jeff Mei, chief operating officer of crypto exchange BTSE, said in a Telegram message. “Signifying the growing convergence between traditional financial systems and the world of crypto, this news is definitely bullish for the crypto market.