paypal
San Francisco (AFP) - PayPal on Monday launched a stablecoin digital currency backed by US dollars to be used for transactions at its global online payments platform. PayPal USD is issued by Paxos Trust Company and backed by dollar deposits and similar cash holdings, the online payments giant said in a release. It comes as the cryptocurrency industry is suffering hard times after the spectacular collapse of FTX and various legal cases against the sector's biggest players. As the biggest cryptocurrencies are famously volatile, entrepreneurs invented a theoretically more reliable alternative kno...
AFP
Frankfurt (Germany) (AFP) - Germany's antitrust watchdog said Monday it had launched an investigation into PayPal to examine whether the US online payment giant was using its dominance to restrict competition. The Federal Cartel Office (FCO) said it would examine whether the conditions set out in PayPal's terms of use amount to a possible "hindrance of competitors and restriction of price competition". Paypal is Germany's leading online payments service but also its most expensive, the regulator said. "We will now examine what market power PayPal has and to what extent online retailers are de...
AFP
New York (AFP) - Online payments giant PayPal has said it is not seeking to buy Pinterest, ending days of speculation that had prompted shares in the image-sharing site to soar. Bloomberg had reported last week that the two California-based companies were discussing an acquisition price of $70 per share, which would value Pinterest at about $44 billion taking into account the total outstanding shares. At this price it would have been the biggest ever acquisition of a social media company, but reports at the time had said a deal was not certain. PayPal said in a statement late Sunday that "in ...
AFP
San Francisco (AFP) - PayPal on Tuesday began allowing people in the United States to use cryptocurrency to make purchases from millions of merchants that use the financial platform for online transactions. The payments giant had already let users buy, sell or store digital money, but the new Checkout with Crypto feature provides an option to use it for purchases. "As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies," PayPal chief executive Dan Schulman said in a blog ...
AFP
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