US Securities and Stock Exchange Commission (SEC), Payment Giant Paypal’s Stablecoin Project Pyusd He closed the investigation he opened without any sanction decision. According to the company’s most current 10-Q, the SEC reported that the official review of PayPal in February was terminated.
PYUSD investigation was terminated quietly
PaypalIn November 2023, the SEC received an official request that requested the delivery of PYUSD documents. Such demands are usually made to collect information and often do not result in legal sanctions. However, this official closing after the process means salvation from a serious burden for Paypal.
After the SEC announced the decision to close the investigation, it was clear that PayPal had no fines, sanctions or regulatory restrictions. This is the company stablecoin It was an important assurance for continuing its activities in its field.
Pyusd was released by Paypal in August 2023 through a third -party exporter. However stablecoinThe impact of the industry was limited to its radical competitors such as Tether (USDT) and Circle (USDC).
Plans and expansion plans are continuing
Immediately after the end of the investigation, Pyusd came to an important news of cooperation in order to increase interest. With PayPal CoinbaseHas offered a remarkable incentive for users of the US-based crypto currency exchange by announcing that there will be no platform fees in PYUSD purchase and sale transactions. PYUSD can be exchanged directly with US dollars directly by 1: 1.
The company also focused on strengthening its technical infrastructure to spread its Stablecoin to a wider usage area. In May 2024 Solana Integrated into the network, the PYUSD has created user -friendly alternatives by offering faster and low -cost transfer.
Paypal, which is not only with it, Anchorage Digital He started to work to develop reward programs via PYUSD by cooperating with. With this move, it is aimed to ensure that users can access certain incentives by keeping stablecoin only.
On the other hand Moonpay The cooperation with it is also quite remarkable. Thanks to this cooperation, users can make PYUSD purchases much easier, especially access to Stablecoin through mobile payment channels and alternative financial applications.
PYUSD’s market share is still limited
Although Paypal, Stablecoin projectAlthough it takes important steps to enlarge, Pyusd’s market value is still quite low compared to its competitors. According to the current data, the total market value of PYUSD is $ 879.9 million. The market value of Tether’s USDT to compare is $ 148.4 billion, and the market value of Circle’s USDC is $ 62 billion.
In other words, there is a long way in front of Pyusd to enter the “Giants League”. However, the disappearance of SEC’s pressure and expanding with new collaborations can facilitate this journey to some extent. In particular, integrations with large US -based platforms can make PayPal’s product a part of global payment systems.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
