PayPal says that the US Securities and Stock Exchange Committee has abandoned its investigation at Stablecoin for the payment giant.
Paypal said on April 29, my organizational presentation The Supreme Education Council systems have ended the investigation of Paypal USD (Pyusd) and will not take any action.
The company said it had received a summons from the SEC implementation department at Stablecoin in November 2023.
“The summons requires the production of documents. We are cooperating with SEC regarding this request,” Paypal stated at the time.
In the last file, the company said that the Supreme Education Council informed it in February that the agency “was closing this investigation without enforcement.”
PayPal said that Stablecoin is 100 % refundable for the US dollar and “fully supported” of deposits in dollars, including short -term treasury bonds and monetary rewards.
However, Stablecoin has struggled to gain momentum in a crowded market dominated by a rope and circle competitor. The market value of Pyusd is only $ 880 million, that is, less than 1 % of Tether’s (USDT) 148.5 billion dollars.
Stablecoin has witnessed a better growth this year with a 75 % increase in Pyus’s trading offer since the beginning of 2025, According to To Coingecko. It remains a decrease of 14 % of the peak of the offer, which is slightly more than one billion dollars in August 2024.
Pyusd profits, coinbase partnership
This growth can be strengthened by a company advertisement On April 23, Pyusd rewards were presented in a new loyalty offer that would enable users from the United States to earn 3.7 % annually to hold the original on the platform.
Meanwhile, on April 24, Paypal Declare Partnership with Coinbase to increase PYUSD.
“We are excited to push new, interesting and innovative use cases with Coinbase and the entire cryptocurrency community, and Pyusd put the center,” said Alex Chris, president and CEO of PayPal.
Related to: PayPal to provide a 3.7 % return on Stablecoin: Report
The payment giant also reported strong profits in the first quarter and completing the activities of large shares.
The company won the estimates of Wall Street, and received $ 1.33 per share in the first quarter, leading the expected analysts’ expectations of $ 1.16. Revenue increased by 1 % of a year 7.8 billion dollars.
magazine: Bitcoin 100 thousand dollars hopes for ice, mysterious SBF prison: Digest Hodler’s
Related Articles
