At the present time, attention is directed towards a great institutional interest in the stable currency sector, especially after Bank of America decided to launch its stable currency, and the price of “Paypal” to increase integration in its Pyusd currency for global transactions.
The movements of the traditional financial sector giants in the United States of America in the sector and exceeding $ 200 billion, where reports have emerged indicating that Bank of America will offer a stable currency, as soon as the organizational situation in the United States is clear, and Paypal revealed that it is working to expand its stable currency role in its bush system.
It is reported that Bank of America is the second largest bank in the United States, with a total of $ 2.57 trillion.
The President of Bank of America hinted, “Brian Mounehan”, to the possibility of the bank to enter the stable currency market, saying, “Bank of America’s aspirations in the stable currency”, and he admitted that stable currencies are working similar to cash funds or bank accounts with access to checks.
“The organizational accreditation remains the primary obstacle to launching a stable currency tied to the US dollar,” Mounehan added, and continued, “If they make it legally, we will be involved in this work.”
The statements of Moinhan reflect the bank’s willingness to enter the sector as soon as the regulations allow this, and he indicated that the future bank of America may be linked to the deposit accounts in dollars, despite its question about its broader benefit.
Nevertheless, Mounehan’s statements are not surprising, as he said earlier, “The American bank industry will embrace encrypted currencies for payments if the organizers allow this.”
For its part, Paypal is preparing to expand its Pyusd currency and actively integrate the currency into its bush system to enhance its adoption.
This confirmed this in Paypal to reveal information about the company’s plans to enhance the Pyusd currency on its platform by enabling merchants to use Pyusd in payments via the Paypal network, and the company also focuses on integrating Pyusd for international payments.
The official, Michelle Gil, explained that Paypal aims to eliminate the complications of currency transfer and reduce the delay of transactions that the traditional system suffers from by integrating Pyusd into the cross -border payment system.
“Many of the payments we expect will be across the border because merchants in the United States are seeking payments for suppliers outside the country,” said generation.
“The hypothesis was: Can we facilitate this on Pyusd to avoid currency transfers, friction, as well as time?”
