PayPal’s Stablecoin, PayPal USD (PYUSD), has plundered a key chapter in its trajectory. US Stock Exchanges and the Securities Commission (SEC) He decided to abandon this research on cryptocurrency.a movement to free companies from possible regulatory measures.
The results have been reported by the company in a recent report: It arrives in the context of regulatory transformation and new strategic alliances It seeks to integrate the existence of PYUSD in the global financial ecosystem.
PayPal reported on the 10-Q form, which was announced yesterday on Tuesday, April 29th. The SEC has concluded its investigation launched in 2023 About PYUSD without imposing compliance measures.
The survey began in November of that year. When the SEC Compliance Department issues a quote requesting more information about Stablecoin.
These citations are common in agency processes and do not always come from legal action. In this case, PayPal came out unharmed.
Pyusd Cryptocurrency was released in August 2023 Designed to replicate the price of US dollars. The Digital Currency is supported by dollar deposits, US Treasury bonds and cash equivalents, and was developed in collaboration with Paxos, a company with experience in issuing Stablocoins, as reported by Crypto.
The alliance allowed PayPal to enter competitive markets dominated by giants such as Tether (USDT) and Circle (USDC).
The evolving regulatory environment
SEC decision That coincides with a major change in the US regulatory panorama.
Donald Trump has arrived at the presidency and with the appointment of cryptocurrency-favoured officials like Paul Atkins, who was envisaged for the SEC last week, The expectations have been created for a more flexible approach to digital assets.
Known for its open position, Atkins could promote policies that promote sector innovation.
So far, the SEC has retired from lawsuits against companies from sectors such as Ripple, Coinbase, Robinhood, Kraken and Yuga Labs.
On top of that, Congress is moving forward with stubcoin law. In March, the Senate Banking Committee approved a genius bill seeking to regulate these assets, but the House Financial Services Committee gave a green light to stable projects in April.
Both initiatives, even during the promulgation process, They aim to establish strict and structured standards for broadcasting companies.
Expansion and strategic alliances
The regulatory environment will evolve, but PayPal will not halt its commitment to PYUSD. Last week, the company announced its alliance with Coinbase, the largest cryptocurrency exchange cited in the stock market.
This collaboration We aim to increase PYUSD adoption by eliminating commissions for transactions made on Stablecoin on the platform And the possibility of redeeming it in dollars at a 1:1 ratio.
These measures aim to make PYUSD more attractive to individual users and institutions.
Meanwhile, last February, PayPal took a bold step by potentially integrating PYUSD into businesses around the world. The company plans to employ Stablecoin by more than 20 million small and medium-sized merchants For payments, please encourage suppliers to participate in the PayPal network.
To facilitate this expansion, the company launched PayPal Open, a platform that enables businesses of all sizes to use trade tools.
Pyusd in the Stablecoins market
Currently, PYUSD ranks sixth among the most valuable stubcoins, with a market capitalization of $879 million.
This number is Far from 180 million USDT and USDC 62,000 millionAccording to Defillma data, PayPal’s Stablocoin continues to gain evidence in a highly competitive market.
Cryptocurrency support for traditional assets and adoption initiatives promoted by the company has allowed it to consolidate its position in the coming years.
