NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: XRP Price Predictions: AI Forecasts $4.40 By March 2026, Analysts Target Up To $6
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: XRP Price Predictions: AI Forecasts $4.40 By March 2026, Analysts Target Up To $6

BREAKING: Did Solana Miss A Golden Opportunity To Collaborate With PayPal’s PYUSD Stablecoin?

Ronaldo Marquez
Ronaldo Marquez
Last Updated: June 11, 2024 9:17 am
2 mins read
Solana

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Reports indicate that PayPal’s stablecoin, PYUSD, was originally intended to be launched in collaboration with FTX on the Solana blockchain in 2022. 

However, unforeseen circumstances led to a sudden suspension of these plans. The collaboration between PayPal and FTX for the initial issuance of PYUSD on Solana was unexpectedly put on hold.

According to Colin Wu, the delay was primarily attributed to FTX’s unfortunate crash, which introduced uncertainty and prompted both parties to reevaluate their strategies. 

 Solana Failure To Secure Partnership With PayPal

Regulatory challenges arose due to the classification of main public chain tokens as securities by the US Securities and Exchange Commission (SEC), complicating the expansion of PYUSD to other Layer 1 (L1) blockchains. 

As a result, PayPal has now chosen to issue its stablecoin through the Paxos Trust Company, marking a significant shift in their original collaboration plans.

Related Reading

Shiba Inu

Shiba Inu Sees 10% Pullback, But Here’s Why Rally Can Still Continue

1 year ago

PayPal, renowned as a leading online payment platform, had diligently prepared to launch their stablecoin, PYUSD, with the assistance of cryptocurrency exchange FTX. The collaboration aimed to leverage the speed and scalability of the Solana blockchain, renowned for its throughput and low transaction fees.

This partnership sought to unlock new possibilities for PayPal within the rapidly expanding realm of digital assets. Unfortunately, the collaborative efforts between PayPal and FTX were abruptly interrupted when FTX experienced a significant crash. 

This unforeseen event forced both parties to suspend their work on PYUSD issuance through the Solana blockchain. The crash created an atmosphere of uncertainty and caution, compelling PayPal and FTX to reassess their plans and explore alternative approaches. Moving forward, PayPal’s PYUSD stablecoin will now be issued by the Paxos Trust Company. 

Initially available to eligible US customers, this digital asset enables seamless transfers within the PayPal platform and compatible external wallets. Additionally, users can utilize PYUSD for purchases and exchange it for other prominent cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more.

Related Reading

Ripple

Ripple Is Now A Member Of Trade Organization That Hosts The Likes Of BlackRock

1 year ago

The unexpected delay in PayPal’s collaboration with FTX on the Solana blockchain highlights the challenges and uncertainties that can arise within the evolving crypto landscape. 

Overall, FTX’s crash and regulatory obstacles prompted PayPal to reconsider their strategy, leading to a shift in their issuance partnership to the Paxos Trust Company. 

As PayPal’s PYUSD stablecoin enters the market under this revised approach, it remains to be seen how this change in strategy will impact the stablecoin’s adoption and growth trajectory.

Solana
SOL is down by 1.7% in the last 24 hours, as seen in the 1-day chart. Source: SOLUSDT on TradingView.com

Featured image from Unsplash, chart from TradingView.com

Tweet123Share196ShareSend
Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

texas-holdem-apt-taipei-epic-hand-all-in-bluff-forcing-the-nut-straight-fold

德州撲克實戰〡APT台北站史詩級戰役拆解 如何用All-in詐唬逼走天順?

在德州撲克的競技場上,最令人屏息的時刻往往不是兩手大牌的正面碰撞,而是一方手持「空氣」,卻能在千萬獎金的壓力下,用勇氣與智慧逼退對手的「堅果」。 這場發生在上周的APT亞洲撲克巡迴賽台北站,主賽事決賽...

newsbtc 3 hours ago
Премьера первого видео Марио Мосбека на YouTube собрала тысячи поклонников покера

Премьера первого видео Марио Мосбека на YouTube собрала тысячи поклонников покера

5 декабря покерное сообщество наблюдало за ярким дебютом: Марио Мосбек представил свое первое видео на новом YouTube-канале, предложив зрителям уникальный...

Марина Орлова 10 hours ago
Bitcoin

Bitcoin Market Records 21% Crash In November Trading Volume – What This Means For Price

Bitcoin’s (BTC) ongoing price correction has been accompanied by several other negative developments that continue to grab investors’ attention. Most...

Semilore Faleti 15 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

CoinPoker lanza Fast and Furious en versión online

Fast and Furious: CoinPoker introduce el Seven Deuce Game en su versión online

Jacobo Díaz 7 minutes ago
Solana Price

Solana (SOL) Recovery Momentum Hinges on Price Closing Firmly Above $140

Aayush Jindal 1 hour ago
dogecoin-volume-surges-memecoin-liquidity-returns-pepenode-hype-rises

狗狗幣成交量暴增迷因幣資金回流 Pepenode新幣熱度上升

Ter Yim 1 hour ago

Premium Sponsors

Press Releases

  • イーサリアム 今後 を左右する要因:ウォール街の巨人が支援した技術の正体

    イーサリアム 今後...

    16 hours ago
  • ビットコイン 今後:マレーシアが11億ドル規模の電力窃盗を摘発、BTCは9万ドル台を維持

    ビットコイン...

    16 hours ago
  • シバコイン 今後:バーン率が217%急増する中で価格はどう動くのか

    シバコイン...

    16 hours ago
  • ドージコイン 今後:売り相場でも0.75ドル到達を見込むトレーディング企業の価格見通し

    ドージコイン...

    16 hours ago
  • リップル 今後:1億ドル規模のXRPがバイナンスへ移動、2.22ドルの抵抗線が依然として重くのしかかる

    リップル...

    16 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.