Latest news with #PYUSD
Yahoo
3 days ago
- Business
- Yahoo
Apple, Google, Airbnb, and X are reportedly eyeing stablecoin payments
Apple, Google, Airbnb, and X are reportedly eyeing stablecoin payments originally appeared on TheStreet. Apple, Google, Airbnb, and Elon Musk's X are allegedly in preliminary talks with companies in the cryptocurrency space to assess transitioning to stablecoins. These companies are considering the use of stablecoins as a cost-saving measure for payment processing and achieving high-level efficiencies in international transactions. As per a report by Fortune, the renewed interest stems from the shifting regulatory landscape under President Donald Trump and his pro-crypto approach to digital assets. There have been numerous attempts by tech giants to carve out a niche in the crypto space, only to be hindered by regulatory concerns. Things are moving in a different direction now that Stripe has acquired stablecoin startup Bridge. Uber CEO, has also hinted at that stablecoins could reduce cross-border costs recently. Google Cloud has already allowed stablecoin payments using PayPal's PYUSD, which was processed through the Google Cloud accounting system. Airbnb is in talks with payments company Worldpay and BNVK, a provider of stablecoin infrastructure, says Fortune. Meanwhile, X, which has had a previous relationship with Visa, is searching to integrate stablecoins into X Money, its imminent payment product. Apple, the big name in digital payments via Apple Pay, is also in talks with crypto payment providers, including a meeting with Circle's representative, the issuer of USDC. Still, it is unclear what stablecoins will be implemented, given compliance concerns, ownership changes, and the poor use of newer tokens like PYUSD. Although the initial conversations are just that, venture firms say the growing involvement of established fintech leaders is legitimizing the stablecoin space, especially with the Trump administration advancing the GENIUS Act. However, it is important to note that Apple, Google, X and Airbnb has not officially acknowledged any stablecoin adoption and TheStreet has not verified such claims personally. Apple, Google, Airbnb, and X are reportedly eyeing stablecoin payments first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared.
Yahoo
30-05-2025
- Business
- Yahoo
Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets
Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets originally appeared on TheStreet. The old system still sleeps. Closes on weekends. Clears trades in days. Moves money in loops and calls it 'settlement.' A slow maze of custodians, paper trails, and batch processors dressed up as modern finance. Everyone nods. No one questions the lag. It's a scaffold of rules and rituals. Stitched together by inertia, policy, and trust in institutions that forgot how to earn it. Then stablecoins exposed the whole thing. They didn't just digitize the dollar, they outperformed it. Moved faster. Worked harder. Never closed. The result? A $230 billion asset class, foundational to crypto and leaking into TradFi like a quiet virus. A dollar that didn't need permission. Nathan Allman, founder and CEO of Ondo Finance saw it early. The Markets aren't built for a world that never closes. 'The financial system wasn't designed for the world we live in—it was stitched together over centuries,' he wrote. 'It's a patchwork of middlemen, paper trails, and private databases.' 'We have global investors, 24/7 assets, and programmable money. But the infrastructure they run on is still built around banking hours.' 'That's the disconnect we're addressing.' OUSG isn't a whitepaper. It's a pipeline. It wraps short-term U.S. Treasuries into a tokenized instrument that behaves like software. Internet-native yield. Real-time liquidity. Fully composable. It's not trying to be flashy. It just works. This isn't a concept. It's already in motion: -$1.3 billion in Treasuries tokenized between OUSG and USDY -BlackRock's BUIDL sits around $2.9b -Franklin Templeton's fund holds roughly $752b The total tokenized RWA market has surpassed $7 billion and it's no longer just theory. It's becoming standard infrastructure. 'Our approach is simple,' Allman says. 'Tokenize high-quality, yield-bearing assets. Wrap them in code. Make them programmable. Make them liquid.' 'What we've seen with OUSG is that institutions want the yield of Treasuries, but they also want the speed and composability of crypto. We're giving them both.' Earlier this month, Ondo integrated PayPal's PYUSD, bridging Treasuries and a major fiat-backed stablecoin. The result? Investors can now convert between sovereign debt and digital dollars instantly, on-chain. No wires. No waiting. Just finality. 'Finance is built on conversions,' Allman said in a recent statement. 'If you can't convert between assets instantly, at scale, you don't have real liquidity—you just have accounting entries.' The ambition isn't subtle. 'What stablecoins did for the dollar, Ondo will do for capital markets.' Not a tagline. A declaration of intent. Stablecoins cracked one flaw. Dollars couldn't function online. The rest of finance never caught up—yield markets, settlement logic, compliance theater—all still trapped in a paper-era fantasy of how money's supposed to move. Ondo's rewriting the stack—liquidity without pause, compliance baked into the logic, capital that moves like it forgot friction was ever a thing. 'We're not trying to create parallel universes,' Allman says. 'We're building bridges—between legacy finance and programmable finance.' The world is catching on. The World Economic Forum, Citi, and Bank of America all estimate tokenized assets could hit $5–10 trillion by 2030 Ondo isn't projecting it. Ondo is routing it. 'We're not here to disrupt,' Allman says. 'We're here to rebuild. The rails. The flow. The logic of how capital moves.' Ondo isn't projecting it. Ondo is routing it.' Most people can't move money without a delay. They can't see all their assets in one place. They can't borrow against U.S. Treasuries unless they're already rich or plugged in. Meanwhile, the machinery is unmistakably antiquated—batch processes, blind spots, and rails built for a slower world Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Stripe Explores Bank Partnerships on Stablecoins as Payments Importance Grows, Says Company President
Payments firm Stripe held early discussions with banks about integrating stablecoins into their core service as digital tokens are gaining traction for global payments, co-founder and president John Collison said in an interview with Bloomberg. "Banks are very interested in how they should be integrated with stablecoins into their product offerings as well," said Collison. "This is not something that banks are just kind of brushing away or treating as a fad." His comments underscore the rising interest among traditional financial firms to explore stablecoins, one of the fastest-growing use cases of crypto. Stablecoins, which have become a $240 billion asset class, are blockchain-based tokens anchored to government-issued currencies, predominantly to the U.S. dollar. They offer cheaper, faster alternative with around-the clock settlements compared to traditional payments channels. PayPal (PYPL) launched its own U.S. dollar-backed stablecoin PYUSD, while French bank Societe Generale issued a euro-backed token EURCV. Visa developed a tokenization platform to help banks issue stablecoins. Stripe is also betting on the growing role of stablecoins in international payments. The firm made headlines earlier this year by acquiring stablecoin tech startup Bridge for $1.1 billion. Since then, Bridge rolled out its own stablecoin USDB while Stripe introduced stablecoin accounts in over 100 countries. "A lot of our future payment volume is going to be in stablecoins," Collison said in the interview. He pointed to costly FX fees and multi-day processing times as pain points that stablecoins could while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Ondo Finance enables 24/7 conversions between OUSG and PayPal USD
Ondo Finance has launched 24/7 instant conversions between its tokenized Treasury product, OUSG (Ondo Short-Term US Government Treasuries), and PayPal USD (PYUSD), the stablecoin issued by Paxos and available via PayPal and Venmo. The update allows users to seamlessly mint OUSG using PYUSD and redeem it back to PYUSD anytime, offering greater liquidity for OUSG holders and boosting the real-world utility of PayPal's stablecoin. The $25 million conversion facility is one of the largest of its kind between a stablecoin and tokenized money market fund. 'Enabling OUSG and PYUSD conversions broadens the range of trusted, high-quality settlement options available to our clients,' said Nathan Allman, CEO of Ondo Finance. 'We're thrilled to deepen our relationship with PayPal and play a leading role at the intersection of traditional finance and DeFi.' The launch is part of Ondo Nexus, the firm's tech platform that supports instant liquidity for tokenized Treasury issuers. With this system, holders of tokenized Treasuries — including those offered by other issuers — will be able to redeem their assets instantly for stablecoins like PYUSD. OUSG remains Ondo's flagship product with over $525 million in total value locked. It offers 24/7 redemptions with no fees, daily interest accruals, and multi-chain support on Ethereum and Solana. The fund is backed by high-quality assets, including BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton's OnChain U.S. Government Money Fund, WisdomTree's Digital Government Money Market Fund, and FundBridge Capital's Ultra Short Treasury On-Chain Fund. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
14-05-2025
- Business
- CNBC
PayPal crypto chief discusses adoption of its native stablecoin
Jose Fernandez da Ponte, SVP and general manager of blockchain, crypto and digital assets at PayPal, joins CNBC Cryoto World's MacKenzie Sigalos at Consensus 2025 to discuss adoption of its stablecoin, PYUSD, and regulatory hurdles ahead of the crypto industry.
