Latest news with #PYUSD
Economic Times
3 days ago
- Business
- Economic Times
Cryptocurrency Live News & Updates : SRM Transforms into Tron Inc. Amid Crypto Shift
17 Jul 2025 | 01:25:11 AM IST SRM Entertainment has rebranded as Tron Inc. and will trade under the Nasdaq ticker 'TRON', marking its shift from a toy supplier to a major player in the crypto treasury space with over 365 million TRX tokens. In a surprising corporate transformation, SRM Entertainment has rebranded as Tron Inc., aligning itself with the cryptocurrency sector by stockpiling over 365 million TRX tokens. This shift raises questions about its identity, as it continues to operate in the theme park merchandise space. Meanwhile, political dynamics are at play, with Donald Trump expressing dissatisfaction with Federal Reserve Chairman Jerome Powell, potentially leading to his dismissal. Trump's coalition against Powell is gaining traction, with calls for investigations into the Fed's operations. In the DeFi arena, World Liberty Financial's WLFI token is set to become tradable after a governance vote passed overwhelmingly, allowing early investors to unlock their tokens. Additionally, XRP's price is on the rise, with analysts predicting it could reach $5 due to increasing demand and positive market indicators. Lastly, Arbitrum's token ARB surged after being listed as a supported chain for PayPal's PYUSD stablecoin, reflecting growing interest in the network. These developments highlight the evolving landscape of cryptocurrency and its intersection with traditional finance and politics. Show more
Yahoo
3 days ago
- Business
- Yahoo
PayPal Blockchain Lead José Fernández da Ponte Joins Stellar
José Fernández da Ponte, formerly the head of blockchain at PayPal, has left the fintech giant, where he oversaw the roll-out of digital currencies and stablecoins, to become president and chief growth officer of the Stellar Development Foundation (SDF). The foundation also said it appointed Jason Karsh, a former Block and executive, as chief marketing officer. The Stellar blockchain operates a cash on and off-ramp network through MoneyGram as well as tokenizing real world assets with partners including Franklin Templeton. But going back over a decade, Stellar has kept in mind humanitarian missions such as improving financial inclusion in developing counties — a deciding factor in his decision to move, Fernández da Ponte said. 'I believe that blockchains are an artifact for a community of people working together in a decentralized way to fix problems,' he said in an interview. 'And if the problem that you're trying to work on is financial inclusion, which is the problem I am interested in, then there's no better place than Stellar to work on that.' Karsh, who has also held positions at Coinbase and security firm Blockaid, will bring together brand, product and ecosystem strategy to strengthen Stellar's presence with developers, institutions and the public. 'Stellar isn't just another blockchain project; it's financial infrastructure that is used each day by institutions and individuals around the world,' Karsh said in a statement. 'Our job is to accelerate adoption and usage for every organization, builder and blockchain enthusiast who cares about enterprise-grade security, transaction speed, and the ease of programmability that builders have come to expect.' Fernández da Ponte, who worked for Banco Bilbao Vizcaya Argentaria (BBVA), and McKinsey before PayPal, led the strategic launch of the payment firm's PYUSD stablecoin. Asked if he didn't have the stomach to stay in the trenches for the ensuing stablecoin wars, Fernández da Ponte said the move to Stellar was more about choosing to work at the infrastructure layer, ensuring applications like stablecoins can run at scale. 'The stablecoin wars are going to be interesting,' Fernández da Ponte said. 'But we need to have the technology primitives for those stablecoins to be useful, and that's why working at the blockchain level is so important.' Stellar's lumen (XLM) token has risen 38% this year, outpacing the CoinDesk 20 Index, to which it belongs, which has added 27%.Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Arbitrum's ARB Surges After Appearing Among Supported Chains for PayPal's $850M PYUSD Stablecoin
Ethereum scaling network Arbitrum's token (ARB) is gaining on Wednesday as speculation swirled that the network could be next where PayPal's U.S. dollar stablecoin (PYUSD) will be deployed. The network was recently added to PayPal's cryptocurrency terms and conditions webpage as a supported chain for PYUSD, alongside Ethereum and Solana (SOL) where the token is already live. "PYUSD is issued by Paxos, not PayPal, on each of the Ethereum, Solana, and Arbitrum cryptocurrency networks," the page reads. ARB was up 7.7% over the past 24 hours, outpacing bitcoin's (BTC) and ETH's gains during the same period. CoinDesk asked PayPal and Paxos representatives for comment. Notably, the Stellar XLM blockchain, which PayPal announced last month to be added for PYUSD, was not mentioned in the terms. Digital trading platform Robinhood also picked Arbitrum to develop and roll out its tokenized equity offering.
Business Times
5 days ago
- Business
- Business Times
Stablecoin has long road to mainstream payments, Mastercard says
[NEW YORK] For all the hype around stablecoins, they are a long way from becoming a viable everyday payment tool, according to Mastercard's chief product officer, Jorn Lambert. 'While the technology powering stablecoins holds tremendous promise – high speed, 24/7 availability, low costs, programmability, immutability – those attributes alone do not suffice to turn stablecoin into a payment tool,' Lambert said on Monday (Jul 14) on a call with analysts. 'Just as important, or even more so, are other attributes such as a seamless and predictable user experience, reach and wide distribution to consumers.' Mastercard is positioning itself as the bridge between digital assets and the traditional financial system. Lambert said the company can provide the infrastructure needed to make stablecoins usable at scale by lending network attributes such as global merchant acceptance, security safeguards and regulatory compliance. The strategy has been years in the making. Mastercard and Visa both have stablecoin initiatives that date back to at least 2021. More recently, Mastercard partnered with stablecoin issuer Paxos Trust Company LLC to help institutions mint and redeem a stablecoin known as USDG. It also supports stablecoins including Fiserv's FIUSD, PayPal's PYUSD and Circle's USDC, efforts that suggest the card networks see long-term opportunity in becoming stablecoin infrastructure providers. Lambert pointed out that today, roughly 90 per cent of stablecoin volume is tied to crypto trading as investors use the US dollar-pegged tokens to buy and sell digital assets. While companies such as Shopify and Coinbase Global have taken steps to make stablecoins available for everyday consumer payments, Lambert said such hurdles as consumer adoption and added friction during the online checkout experience will be difficult to clear in the near term. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The consumer value proposition for regular peer-to-merchant payments 'is lacking and stablecoin does not actually do anything in this equation', Lambert said. 'We think of that as almost a prepaid card. You have a stored balance sitting in a wallet and then you need to use it at certain merchants.' Stablecoins have been pitched as a way to bypass card networks, and their associated fees, by enabling consumer-to-merchant payments. The networks are reframing that narrative, casting themselves as partners that can increase the utility of stablecoin by integrating the currencies into their networks. 'At the end of the day, the conversion into stablecoin and out of stablecoin will always be there, into fiat, because that's the usable currency right now,' Raj Seshadri, chief commercial payments officer at Mastercard, said. 'The cost of stablecoin is just the cost of stablecoin, it's not the cost of the end-to-end use case, which has this on and off ramp, FX, regulatory compliance, settlement, et cetera.' The chatter surrounding stablecoin has only grown louder as stablecoin legislation progresses in the US. The pending regulatory clarity has drawn new entrants into the digital asset sector and encouraged financial institutions to consider their place in the evolving industry. It has become a higher priority as financial institutions consider the risk of funds being held as stablecoin balances instead of as bank deposits. 'Every financial institution in the world is wondering 'Gee, what do we need to do here? Do we need to offer stablecoins? Do we need to offer deposit tokens? What is the product-market fit?' Lambert said. 'Many issuers are looking at it simply to make sure they keep hold on their deposits.' In addition to financial institutions, governments and central banks around the world are considering how to spur innovation in their domestic ecosystems to avoid the dollarisation of their economies. 'We will see that multiplicity emerge over time,' Lambert said. BLOOMBERG
Business Insider
6 days ago
- Business
- Business Insider
Atlas adds ‘all of the stablecoins' to its multi-currency banking product
London, United Kingdom, July 14th, 2025, FinanceWire Atlas ( today announced the launch of stablecoin accounts. Allowing businesses and private wealth structures to send, receive, and hold stablecoin account balances, similar to how a traditional fiat bank account works. Globally regulated (since 2018) and available in over 150 countries. For those who want things to run like a bank but using DeFi rails. In 2024, the annualized transaction value for the stablecoin industry reached $15.6 trillion, outpacing major payment networks like Visa and Mastercard. For the first time ever, global settlement of funds went instant, 24/7, including weekends and bank holidays. Growth and opportunity have meant there are approximately 200 different types of stablecoin, across more than 50 different blockchain networks, with some stablecoin issuers connected to multiple blockchains. USDC (Circle), for example, is currently on 23 blockchains. 'The best fintech products have always been about providing access. Atlas is taking a multi-coin, multi-chain approach." Said James Robertson, Head of Product at Atlas. "We are currently connected to more than 50 blockchains, with all 200 stablecoin issuers available, including USDC (Circle), USDT (Tether), (RLUSD) Ripple and PYUSD (PayPal). Always connected to whatever stablecoin and blockchain your customers want to pay you with.' Account holders can frictionlessly move between blockchain, currencies, and into over 26 fiat currencies. Even earn a yield on their stablecoin balances of up to 11% APY. 'We're taking the same principles of our core multi-currency banking product, and applying it to stablecoins. Funds are held in reserve 1:1 which can be verified on-chain. Customisable user permissions and approval processes, with downloadable statements and transaction reports. Backed up with a $30m insurance policy" added Robertson About Atlas Atlas provides banking and payments for fiat, crypto, stablecoin, and tokenized assets. Regulated since 2018 and built by an experienced team from Morgan Stanley and the European Space Agency.
