Singapore's DBS Boosts Digital-Asset Push With First Stablecoin Tie-Up [BNN Bloomberg (Canada)]
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PayPal Holdings, Inc. (PYPL)
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Source: BNN Bloomberg
The lender said the development deepens its wide-ranging involvement in the digital-asset ecosystem, making the announcement after Paxos' operation in the city-state received a license from the Monetary Authority of Singapore. “We look forward to partnering leading stablecoin issuers for their cash management and reserve custody needs if they meet the regulatory requirements,” Evy Theunis, head of digital assets at the institutional banking group at DBS, said in e-mailed responses to questions on Tuesday. Singapore is seeking to foster productive uses of crypto's underlying blockchain technology to augment its status as a global financial hub. Advocates of stablecoins argue they will make inroads into traditional finance because they make payments easier, faster and cheaper, a claim yet to be proven at scale. Stablecoins are typically pegged 1-1 to major currencies and backed by reserves like cash and bonds. For now they are predominantly used to park funds to deploy in crypto
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- Stablecoin Issuer Paxos Names Lim Executive Director in Singapore [BNN Bloomberg (Canada)]BNN Bloomberg
- PayPal Holdings, Inc. (NASDAQ: PYPL) was upgraded by analysts at Susquehanna from a "neutral" rating to a "positive" rating. They now have a $71.00 price target on the stock.MarketBeat
- Paxos Gains Singapore Approval for Stablecoin Issuance With DBS Providing Custody [Yahoo! Finance]Yahoo! Finance
PYPL
Earnings
- 4/30/24 - Beat
PYPL
Sec Filings
- 7/3/24 - Form 4
- 7/3/24 - Form 3
- 6/28/24 - Form 8-K
- PYPL's page on the SEC website