1/ 🧵 Bank of England has approved Paypal's stablecoin PYUSD in it's market. They still have to comply by the FCA's regulatory compliance regime from now.
1/ 🧵 Bank of England has approved Paypal's stablecoin PYUSD in it's market. They still have to comply by the FCA's regulatory compliance regime from now.
2/ 🧵 Paypal applied for the PYUSD listing in the exchanges that work in the united kingdom. And for that they acquired the approval of the FCA.
3/ 🧵 PYUSD currently may not be much usable as of now because there does not seem to be an option to cash it out for the FIAT and there are rules for that transactions in the centralized exchanges.
4/ 🧵 In order to compete with the CBDC, the stablecoin market has to bring some new features for the consumers otherwise there does not seem to be strong use case with rules like the FCA.
5/ 🧵 Check out how the approval from Bank of England would change PYUSD.
https://inleo.io/@esmeesmith/bank-of-england-approves-pyusd-in-regulatory-regime
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