{"id":73982,"date":"2023-02-13T12:00:23","date_gmt":"2023-02-13T10:00:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73982"},"modified":"2025-09-09T17:33:04","modified_gmt":"2025-09-09T14:33:04","slug":"bloomberg-reports-paypals-pause-in-developing-a-stablecoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-reports-paypals-pause-in-developing-a-stablecoin\/","title":{"rendered":"Bloomberg reports PayPal’s pause in developing a stablecoin"},"content":{"rendered":"

The payments giant PayPal has frozen the development of its own stablecoin amid news of the NYDFS<\/span>‘s investigation into Paxos, the issuer of BUSD and USDP<\/a>. Bloomberg<\/a>.<\/p>\n

Paxos became PayPal’s partner in issuing the stablecoin. It was expected that the token’s debut would occur ‘in the coming weeks’.<\/p>\n

At the moment the payments giant is seeking to understand the evolving regulatory landscape for such assets, according to people familiar with the matter.<\/p>\n

\n

We are studying the ‘stablecoin’. If and when we move forward, we will, of course, work closely with regulators,<\/em> said Amanda Miller, the company’s spokesperson.<\/p>\n<\/blockquote>\n

Rumours about the company’s plans surfaced<\/a> in May 2021. At that time, one of the informed sources said that PayPal was more likely to select a partner already represented in the stablecoin sector.<\/p>\n

As Bloomberg reported on the NYDFS investigation <\/a> into Paxos’s activities.<\/p>\n

On February 13 The Wall Street Journal, citing its own sources, wrote about plans for the SEC<\/span> to sue<\/a> the company over its involvement in the issuance of BUSD. The Commission deemed the stablecoin a security.<\/p>\n","protected":false},"excerpt":{"rendered":"

The payments giant PayPal has paused development of its own stablecoin amid news of the NYDFS’s investigation into Paxos, the issuer of BUSD and USDP. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":73983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1504,182,807],"class_list":["post-73982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-paxos","tag-paypal","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73982"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73982\/revisions"}],"predecessor-version":[{"id":73984,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73982\/revisions\/73984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73983"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}