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PayPal pauses stablecoin work amid regulatory scrutiny of crypto - Bloomberg News

PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks, Bloomberg reported, citing a person with knowledge of the matter. The macroeconomic weakness has also begun to pressure growth at PayPal's core

PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks, Bloomberg reported, citing a person with knowledge of the matter. The macroeconomic weakness has also begun to pressure growth at PayPal's core business as consumer spending, particularly discretionary purchases, comes under pressure due to a cost-of-living crisis, triggered by decades-high inflation.

by wjb news
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