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Paypal and Ey: We’ve Created a New Currency That’s So Stable… It Might Just Cause the Global Financial System to Collapse!

A  illustration depicting a giant dollar sign standing on shaky ground amidst swirling storm clouds and broken chains, while in the background a small anchor symbol representing stability holds firm.

Just when you thought it was safe to go back in the water… PayPal and Ernst & Young have decided to take the plunge into stablecoins. Because what could possibly go wrong, right? I mean, who needs actual value or utility from a currency when you can just create one out of thin air with some fancy computer magic?.

Source: cointelegraph

Fintech company PayPal has completed its first business payment using PayPal USD (PYUSD), its proprietary USD-pegged stablecoin. According to an Oct. 3 Bloomberg report, the payment was made to the Big Four accounting firm Ernst & Young through SAP’s digital currency hub. The companies did not disclose the invoice amount. PayPal Holdings is an audit client of Ernst & Young. The transaction was a way to demonstrate how corporations could […]

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