Hashnote, a leading digital asset manager, has announced a strategic partnership with Paxos, a blockchain infrastructure provider. The collaboration is set to bring about the integration of PayPal’s PYUSD stablecoin with Hashnote’s yield-bearing USYC token, marking a pivotal advancement in the realm of digital finance. Paxos and Hashnote strengthening the ecosystem PayPal’s foray into the... source: https://www.cryptopolitan.com/paxos-hashnote-integrate-paypal-stablecoin/

According to Foresight News, digital asset management company Hashnote has announced a partnership with Paxos, allowing for instant conversion between Hashnote's US Treasury token USYC and PayPal stablecoin PYUSD. The collaboration aims to improve the settlement of USYC tokens. Hashnote stated that USYC is only available to investors outside the United States and is subject to eligibility restrictions and a minimum investment limit of $100,000. However, the company said that US investors can invest in USYC through the Hashnote Feeder Fund.

Digital asset management company Hashnote has announced that it will partner with Paxos to facilitate a “bi-directional atomic settlement process” that allows for instant conversions between the yield-generating USYC token and PayPal’s stablecoin. Leo Mizuhara, CEO of Hashnote, said that being able to instantly mint and exchange between PYUSD and USYC not only enhances liquidity but also puts all stakeholders at the forefront of revenue generation in the digital asset space. Data shows that PYUSD’s market capitalization exceeded $300 million at the beginning of the year, but shrank significantly in March. (TheBlock)

On-chain data shows that the supply of PYUSD has been reduced to 190,082,197.76 pieces, the current number of holders is approximately 6,534, and the number of on-chain transactions reached 56,818. On March 7, the supply of PYUSD was 264 million pieces, and the current supply has decreased by approximately 74 million pieces from last week.

스테이블코인 발행사 팍소스(Paxos)가 지난 3월 1일자 투명성 보고서를 발표, PYUSD 미상환 토큰 총액은 3.04억 달러를 기록했다고 밝혔다. 준비금 규모는 미국 국채 담보 환매조건부채권 3.1억 달러, 기타 현금 담보는 81만 달러 수준이다. 순자산 중 담보물 시장가치는 3.05억 달러다.

Paxos released the PYUSD transparency report in February 2024, disclosing the relevant unaudited data of PYUSD as of 06:00 on March 1, 2024, Beijing time, including: 1. Total Tokens Outstanding is US$304,427,933; 2. The current market value of the collateral in the U.S. Treasury collateralized reverse repurchase agreement is approximately $311,025,637, with a notional position value of approximately $304,927,000; 3. The market value and notional position value of collateral held in other cash deposits with insured depository institutions are both $812,281; 4. The current market value of the collateral in total net assets is approximately $311,837,918 and the notional position value is approximately $305,739,282.

According to PANews, PayPal's international remittance service, Xoom, is allowing users to transfer its stablecoin, PYUSD, without any fees. This move is part of PayPal's strategy to expand its international remittance market share and increase the use cases for PYUSD, which was launched last year. PayPal currently lags behind Wise in the international remittance market. In an interview, PayPal Senior Vice President Jose Fernandez da Ponte stated that Xoom senders would not have to pay any conventional fees, which typically average 2% across the industry. Instead, recipients will receive funds in their local currency as usual. He added that Xoom operates in 160 countries and has a network of over 350,000 cash pick-up points. Although Xoom will waive transaction fees for PYUSD transfers, users will still pay in the form of customary foreign exchange spreads. Fernandez da Ponte believes that PayPal is playing a long game in the stablecoin sector. He thinks that the business model of earning interest from reserves, which is currently profitable for Tether and Circle, will become unviable in the long run as interest rates decline. Instead, he expects PYUSD to generate returns for the company in the form of interest rates and other traditional payment industry services.

포춘에 따르면 페이팔의 SVP(Senior Vice President) 조세 페르난데즈 다 폰테(Jose Fernandez da Ponte)가 “페이팔의 해외송금 앱 줌(Xoom)에서 PYUSD 송금 수수료 무료 정책을 시행할 것"이라고 밝혔다. 그는 “현재 업계 평균 해외 송금 수수료는 2%인데 우리는 PYUSD에 대해서는 송금인과 수취인 어느 쪽에서도 수수료를 부과하지 않을 계획이다. 줌은 현재 160개국에서 서비스를 제공하고 있다. 아울러 현재는 PYUSD를 송금하더라도 수취인이 이를 법정화폐로 환전해 받지만, 나중에는 암호화폐로 받게 될 가능성이 크다고 생각한다”고 설명했다. 아울러 그는 “향후 수 개월 안에 벤더사에 지불하는 비용도 법정화폐에서 PYUSD로 바꿀 계획”이라고 덧붙였다.

Users of Xoom, PayPal's overseas money transfer app, will not pay any fees if they transfer money using the company's stablecoin PYUSD. The move is understood to be a way for PayPal to expand its international remittance market share, which currently lags behind market leader Wise, and to expand the use cases for PYUSD it launched last year. (Fortune)

이더스캔 데이터에 따르면 페이팔 PYUSD 공급량이 224,350,606.06개로 이달 들어 약 8000만개 감소했다. 보유 주소는 6,234개로 집계됐다.

Moody's Analytics will employ machine learning and a range of indicators to assemble and assess large-cap stablecoins, aiming to detect potential depegging events.