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0.00021138595936773 0.00157179064836885 0.00125785110475322 0.00476252566455755 0.00021138595936773 -0.00366053507855816 0.00376936745367813 -0.00209083736048014
Stock impact report

PayPal has a novel plan to capture the $239B stablecoin market [Yahoo! Finance]

Robinhood Markets, Inc. - Class A (HOOD) 
Company Research Source: Yahoo! Finance
Expected to launch this summer, the annual yield on the PYUSD holdings will be accrued daily and paid monthly. PayPal will pay the yield in PYUSD, which users can exchange for fiat currency, transfer domestically or globally, or pay via PayPal Checkout. The fintech company's move is aimed at encouraging stablecoin usage as a payment mode among its wide user base. A stablecoin is a type of cryptocurrency that is created to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is usually pegged to a traditional currency like the US dollar or a commodity like gold. Issued by Paxos Trust Company, PYUSD is PayPal's stablecoin that is pegged to the USD and is backed by U.S. Treasuries, among other reserves. Jose Fernandez da Ponte , the company's senior vice president and general manager of blockchain, crypto and digital currencies, said, “We see stablecoins as building the next generation of payment rails but we are aware that is something tha Show less Read more
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