PayPal launches U.S. dollar-denominated stablecoin

PayPal has announced the introduction of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), backed by U.S. dollar deposits, short-term U.S Treasuries, and similar cash equivalents. Issued by Paxos, PayPal USD is redeemable 1:1 for U.S. dollars.

PayPal says policy to fine customers for ‘misinformation’ was an ‘error’ — Reuters

PayPal will not fine users for misinformation and an earlier policy update that said customers could have to pay $2,500 in damages was sent in error, according to the report.

Pentagon finds concerning vulnerabilities on blockchain — TechRepublic

A report commissioned by the Pentagon concluded that the blockchain is not decentralized, is vulnerable to attacks and is running outdated software, writes Ray...

Grafana Labs raises $50M

New York-based Grafana Labs, a company that provides open source software for the visualization of monitoring and metric analytics, has raised $50 million.

Venture capitalists bet big on the $1.9 trillion payments industry — CNBC

Upstart payment firms have attracted big corporate clients and billions of dollars in venture capital money, writes Ryan Browne. Here is the link: