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Stock impact report

PayPal Moves to Set Up Utah-Chartered Bank to Bolster Payments and Lending [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
If approved, it could help position the payments giant to more directly support its expanding crypto and stablecoin operations within a regulated banking framework. The application, filed with Utah regulators and the Federal Deposit Insurance Corporation, would allow PayPal to originate loans, hold customer deposits, and access payment networks more directly, reducing its reliance on partner banks. The aim is to "provide business lending solutions more efficiently to small businesses in the U.S., while reducing reliance on third parties," PayPal wrote in a statement. "Securing capital remains a significant hurdle for small businesses striving to grow and scale,” CEO Alex Chriss said in the statement. Decrypt has reached out to the FDIC, the Utah Department of Financial Institutions, and PayPal for additional information on the filing, but has not yet received a response. PayPal to Enable Businesses to Accept Bitcoin, Ethereum and Other Cryptocurrencies PayPal's foray into Show less Read more
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