this post was submitted on 07 Aug 2023
45 points (92.5% liked)

Technology

58111 readers
5296 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
 

PayPal is Introducing a new crypto currency and you’ll be able to buy, sell, hold, and transfer it in the app. 1 USD : 1 PYUSD on PayPal

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 1 year ago

I guess the purpose of this PayPal coin is the same as Tether: to circumvent some of the regulations that comes when trading cryptocurrencies with real USD.

They will probably require some KYC verification process before you can buy the coin, so PayPal will know exactly who you are. It’s up to PayPal to reveal your registered name or not.

I also doubt they will allow to send the coin to people outside US. They explicitly state in the page that it’s for US customers only.