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BREAKING ⚠️ : The State of Crypto Report (September 2023)
PayPal just announced that its stablecoin, PYUSD, is coming to Venmo within a week.
You can buy PYUSD in Venmo and send it over to PayPal, other Venmo accounts, and compatible external wallets.
PYUSD is already trading on exchanges like
, Kraken, and Coinbase. Crypto.com
It's also supported by wallets like MetaMask, Ledger, and Phantom.
Being available on Venmo not only adds credibility and utility to PYUSD, but it will give PYUSD access to most American users who use Venmo on a daily basis.
It could become a major player in the stablecoin market.
PYUSD is backed by U.S. dollar deposits, short-term US Treasuries, and other cash equivalents, similar to USDC and USDT.
DAI, a stablecoin by MakerDAO, is backed by multiple cryptocurrency holdings (ETH, BAT, WBTC, and more) based on the assets of MKR stakeholders.
USDC, USDT, and DAI are the three largest stablecoins.
PYUSD is currently ranked 59 with a market cap of just under $10 million,
. Venmo is owned by PayPal, and this access to a new user base might increase PYUSD’s market cap even further. according to Defillama . Learn more about stablecoins here
Fuze Finance: $14M
Digital asset infrastructure platform Fuze Finance raised $14M in a Seed funding round led by Further Ventures, with participation from Liberty City Ventures.
NFT-powered event and content platform Afterparty raised $5M in a Strategic funding round led by Blockchange Ventures, with participation from Acrew Capital, Act One Ventures, Tamarack Global, Vinny Lingham.
Mesh Payments: $22M
Cloud-based spend management platform Mesh Payments (ex Front Finance) raised $22M in a Series A funding round led by Money Forward, with participation from Galaxy Digital, Samsung Next, Streamlined Ventures, SNR VC, Hike VC, The Heitner Group, Valon Capital, Florida Funders, Altair Capital, Network VC.