4 months ago
24 ARTICLE AD
The integration aims to streamline global business payments.
BVNK, a payment infrastructure provider, has announced the integration of the PayPal USD (PYUSD) stablecoin, issued by Paxos Trust Company, into its payment system. This move allows businesses to access PYUSD on BVNK’s platform, which supports a variety of digital and fiat currencies.
In addition, as an approved member of the PYUSD ecosystem, BVNK can directly create (mint) and remove (burn) PYUSD tokens for customers, the company shared in the press release.
Chris Harmse, BVNK co-founder and VP of Commercial Strategy, stated:
“We’re building modern payment infrastructure to enable more businesses to operate across banks and blockchains and maximize financial flexibility. Stablecoins make up almost 90% of the payment we process, and they’re very important to our customers as a way to settle global payment efficiently. We’re thrilled to introduce PYUSD to our platform,” Harmse stated.
Nick Robnett, Head of Asset Growth at Paxos, also commented on the integration, highlighting the trust and growth PYUSD brings to digital assets.
“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. We’re seeing growth every day as it’s rolled out across the PayPal ecosystem – and we’re delighted to team up with BVNK to give more businesses access to PYUSD, and more options for how they move their money globally,” Robnett noted.
With PYUSD, BVNK customers can engage in a range of financial activities, including settling payments and creating PYUSD wallets. The integration reflects the significant role stablecoins play in the blockchain economy.
As of May 16, 2024, PYUSD’s market cap reached $377 million, according to data from CoinGecko.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
