PayPal stablecoin PYUSD will soon be available at Triple-A.
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Singapore-based licensed payment firm Triple-A is set to merge PayPal's stablecoin PYUSD with it. Range According to Bloomberg's latest report, the tokens will be offered until the end of June.
In addition to PYUSD, Triple-A customers can choose from a variety of payment options; They currently include Bitcoin, Ethereum, Tether's USDT and Circle's USDC.
As Singapore's first licensed crypto payment company, Triple-A has received its digital payment token service license from the Monetary Authority of Singapore (MAS) by the end of 2021. Domestic and cross-border money transfers, e-commerce transactions and other digital payment token services.
Eric Barbier, founder and CEO of Triple-A, said that the company's payment volume has tripled from 2022 to 2023, and expressed his desire to double these volumes. dead end In the year 2024
“PayPal has the firepower to make it available. a lot of Consumers as if One to go. No one has that power today, Barbier explained, highlighting PYUSD's potential to become a leading stablecoin in the market.
According to him, Stablecoins account for 60% of Triple-A's total payout, with USDT being the most popular choice. This choice reflects the growing role of stablecoins as a bridge currency, facilitating the exchange of funds between cryptos and traditional fiat currencies.
PayPal has entered the stablecoin space with PYUSD. Paxos, as Part of an experimental effort to compete with other crypto entities. PYUSD has since its launch in August. It achieved a market capitalization of approx. $202 million according to CoinMarketCap data. By comparison, the market-leading stablecoin USDT has a market cap of nearly $110 billion.
To further boost PYUSD adoption, PayPal US recently enabled its Xoom customers to use the stablecoin internationally. Payments, allowing Converting to dollars for cross-border money transfers.
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