Aug 2023 Crypto Industry Updates

Table of Contents

Content will be sorted chronologically with latest at the bottom.

  • PayPal has unveiled its new USD stablecoin
    • Known as PayPal USD (PYUSD)
    • PYUSD is in collaboration with Paxos as an ERC-20 token on the Ethereum network.
    • It is a centralised stablecoin that can be frozen at will by Paypal
    • 100% backed by USD deposits and short-term treasuries.
    • Overseen by the New York State Department of Financial Services

Started investing in crypto towards the end of 2020.