Fintech Wrap Up on LinkedIn: #fintech #payments #funding
Summary
Nicholas Robnett, Head of Asset Growth at Paxos says: As a dollar-pegged stablecoin that is issued by Paxos Trust Company, which is overseen by New York Department of Financial Services, PYUSD is bringing greater trust to digital assets. Were seeing growth every day as its rolled out across the PayPal ecosystem and were delighted to team up with BVNK to give more businesses access to PYUSD, and more options for how they move their money globally. Indeed, BVNKs move to adopt PYUSD comes as stablecoins continue to be one of the fastest growing crypto assets. A report from Castle Island Ventures reveals that today, stablecoins account for close to 70% of all transactions on the blockchain, eclipsing traditional digital currencies such as Bitcoin. BVNK Co-founder and VP Commercial Strategy Chris Harmse, CFA, adds: Were building modern payments infrastructure to enable more businesses to operate across banks and blockchains and maximise financial flexibility.