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Stock impact report

PayPal, issuer of PYUSD, applies for Utah industrial bank license [Yahoo! Finance]

PayPal Holdings, Inc. (PYPL) 
Last paypal holdings, inc. earnings: 1/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.paypal-corp.com
Company Research Source: Yahoo! Finance
The company, which also operates the PYUSD stablecoin through a partnership with Paxos, said in a press release it intends to "provide business lending solutions" to small businesses and interest-bearing savings accounts to other customers. It also intends to work with credit card networks. PayPal also applied for deposit insurance through the Federal Deposit Insurance Corporation. In a statement, PayPal CEO and President Alex Chriss said, "securing capital remains a significant hurdle for small businesses striving to grow and scale." "Establishing PayPal Bank will strengthen our business and improve our efficiency, enabling us to better support small business growth and economic opportunities across the U.S.," he said. Utah industrial banks are subject to "the same regulatory and supervisory oversight as commerical banks," but their activities "are not as restricted," according to the Utah Department of Financial Institutions website , with these types of institutions not be Show less Read more
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