15:05 - 14.08.2023

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The PayPal payment company will launch a "cryptocurrency hub" after the launch of the PYUSD stablecoin.

According to ABC.AZ, the Hub will also play a big role for conversion between the PYUSD stablecoin and other crypto assets.

PayPal users will be able to store and perform transactions with bitcoin (BTC) and other cryptocurrencies. The "cryptocurrency hub" will also be used for conversion between PYUSD and other crypto assets.

The hub will be available only to those users who have a "personal PayPal account and a balance account with a good reputation." The company will also verify the necessary identification data of the client, such as name, location address, date of birth and taxpayer number.

It should be noted that in August, after two years of development and transfers, PayPal launched its own dollar stablecoin, becoming one of the first major payment companies that were able to bring their crypto product to the mass market. The stablecoin from the payment service was named PayPal USD and the stock ticker PYUSD.