that has over the last 12 months grappled with regulatory headwinds that were exacerbated by a string of high-profile collapses.
A string of major economies, from Britain to the European Union, have since laid out rules to govern stablecoins. The EU’s policies will come into force in June 2024. PayPal’s stablecoin, dubbed PayPal USD, is backed by U.S. dollar deposits and short-term U.S Treasuries, and will be issued by Paxos Trust Co. It will gradually be available to PayPal customers in the United States.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: