USDP – Ƀitsell X

Paxos Launches New Stablecoin Payments Platform With Stripe as First Customer

October 16, 2024

Paxos, a regulated tokenization infrastructure platform, has unveiled its new stablecoin payments platform, with Stripe as its inaugural customer. This innovative solution powers Stripe’s Pay with Crypto product, enabling merchants to seamlessly accept stablecoin payments. By leveraging Paxos’ comprehensive infrastructure for onboarding, pay-ins, conversions, and payouts, businesses can reduce costs and expand their international reach…
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Stablecoin Storm — Gemini’s GUSD Shrinks 93% Amidst Market Turbulence

January 3, 2024

Over the past few years, the stablecoin market has significantly slowed, particularly since mid-2022, following the collapse of Terra’s stablecoin. Additionally, last year, the New York Department of Financial Services (NYDFS) instructed Paxos to cease the issuance of BUSD. Beyond these setbacks, the supplies of three other stablecoin assets have drastically reduced, now garnering minimal…
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Paxos Expands to Solana Following NYDFS Nod, Widening Stablecoin’s Horizon

December 23, 2023

The tokenization and stablecoin platform Paxos has revealed plans to broaden its stablecoin issuance to the Solana blockchain. The company, which oversees the pax dollar (USDP), anticipates that Solana-issued USDP will be publicly available starting Jan. 17, 2024. Paxos Set to Launch Stablecoin on Solana, Expanding USDP Reach in Crypto Market On Friday, Paxos…
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Top 10 Stablecoins Witness Massive Supply Reductions, Yet Dominate 61% of Global Trade Volume

August 18, 2023

For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects. Yet, stablecoins still dominate in terms of global trade volume, accounting for 61% of all settled trades in…
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A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media

August 8, 2023

At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the contract continues to retain a substantial 92.91% of this supply. Concurrently, the Paxos Treasury wields…
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Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD

August 7, 2023

Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD Stablecoin to Facilitate Cryptocurrency Trading and Payments On Monday, the internet is…
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Stablecoin Economy Sees $3 Billion Drop: Leading USD Tokens Shrink as Euro-Anchored Projects Display Resilience

July 25, 2023

The stablecoin economy continues to shrink, with more than $3 billion in value removed from today’s top stablecoin valuations in less than 40 days. The dollar-pegged tokens USDP and GUSD experienced the largest 30-day reductions, shedding 45.1% and 27.2%, respectively. Top Stablecoins Tumble: $3 Billion Evaporates in Less Than 40 Days Statistics reveal a significant…
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Stablecoin Market Records $2.4B in Redemptions in 30 Days as Leading Tokens Experience Supply Decline

June 15, 2023

According to statistics, over the span of 30 days, from May 15 to June 15, 2022, more than 2.4 billion stablecoins were redeemed. During this period, three of the leading stablecoins experienced a decline in their supplies ranging from 4% to 19% compared to the previous month. Stablecoin Economy Slips Lower In the realm of…
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Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions

May 13, 2023

Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433 million shy of reaching its all-time high (ATH) set on May 8, 2022. Stablecoin…
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Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply

March 26, 2023

According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed.…
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Tag: USDP