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.

Cosmic Wire raises $30M

New York-based Web3 and blockchain solutions provider Cosmic Wire, has raised a seed round of $30 million.

Outdefine raises $2.5M

San Francisco, Calif.-based Outdefine has raised $2.5 million.

WalletConnect raises $12.5M

New York-based Web3 communications protocol company WalletConnect has raised $12.5 million.

TwitterScan raises $4.56M

New York, NY-based Web3 decentralized social identification platform TwitterScan has raised am$4.56 million seed round.