PayPal manager explains why his company is enthusiastic about bringing his stablecoin to Stellar

On June 11, PayPal shared announced Plans the introduction of his stable coin bound to the US dollar, PayPal USD (PYUSD) on the Stellar Blockchain network, subject to official approval by the New York State Department of Financial Services. If approved, this step would mark the expansion of PYUSD beyond the current availability to Ethereum and Solana.

PayPal described Stellar as a blockchain that is specially designed for inexpensive, quick payments with strong real applicability. By supporting Stellar, the company intends to improve the accessibility and usability of PYUSD for payments, cross -border transfers and financial services. Integration is intended to broaden the daily payment options and offer users extended access to financing tools such as operating capital and loans for small companies – areas in which Stellar is already active.

The press release emphasized Stellar's existing global infrastructure, including a wide-ranging network of on and off-ramps, local payment systems and digital wallets that could help to make PYUSD accessible to users in over 170 countries. PayPal also emphasized potential advantages for liquidity and processing by Payfi, an emerging digital financing mechanism that would enable companies to access them in real time in Pyusd to Stellar.

May Zabaneh, Vice President for Digital currencies at PayPal, said that the partnership will help to advance the use of blockchain in the area of cross -border payments. Denelle Dixon, CEO of the Stellar Development Foundation, said that the cooperation could help advance the practical use of stable coins in aspiring markets and for small companies worldwide.

Pyusd is output by the Paxos Trust Company and is completely covered by liquid funds and equivalent reserves, with a fixed return value of USD per token.

Earlier on this short video Published by the Stellar Foundation, Ian Burrill, Senior Director at PayPal, explained the crypto engineering team why his company is looking forward to the start of Pyusd on Stellar. Burrill said that Stellar is a fast, inexpensive network and extends the range of PYUSD to over 180 countries. He continued that the opportunity for dealers to use Pyusd on Stellar allows them to send money in real time, which enables more efficient capital management.

Technical analysis

• The XLM token from Stellar recorded a significant increase in course during a 24-hour trading period of July 11th at 5:00 p.m. UTC at 4:00 p.m. at 4:00 p.m. at 4:00 p.m., with the courses fluctuating within a span of $ 0.071, which corresponds to a volatility of about 20.59 % between a session low of $ 0.345 and a high of $ 0.416 Analysis model from Coindesk Research.
• The most important trading activity took place in the early morning hours of July 12 at 01:00 a.m., when the XLM shares rose from $ 0.354 to $ 0.393 with a significant volume of 551.38 million units, which significantly exceeded the 24-hour average volume of 234.19 million and technical support near the price level of $ 0.354 established.
• The upward trend continued until July 12th at 11:00 a.m. and reached a daily high of $ 0.416 before reaching resistance in the range of 0.400 to 0.403, where institutional profit -making apparently limited further increases.
• In the last trading lesson from July 12 from 15:47 UTC to 16:46 UTC, XLM showed a new starch with an increase of 3.89 % from $ 0.39 to $ 0.39, which continued the positive dynamics of the session.
• The most important price movement took place between 16:03 and 16:08 UTC, when the shares rose from $ 0.374 to $ 0.385, with increased volume of 13.16 million and 17.14 million, significantly above the hourly average of 3.2 million units.
• This activity established technical support in the range of $ 0.387 to 0.387, where the shares consolidated in the last 30 minutes of the session, while market participants observe a possible continuation towards the resistance level of 0.39 to 0.40 USD, which were identified in the more comprehensive technical analysis.

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