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11th June PayPal notified Plans to launch your US dollar supported by Stablecoin, PayPal USD (Pyusd)In the Stellar Blockchain network, the Regulatory Ministry of Finance Services in New York is waiting for approval. If approved, this step would mean expanding PYUSD beyond its current availability to Ethereum and Solan.
PayPal described Stellar as a blockchain adapted for cheap, high -speed payments with strong usefulness in the real world. Adding support for Stellar seeks to improve the availability and usability of PYUSD for payments, cross -border transfers and financial services. Integration is expected to strengthen daily payment options and provide users with extended access to financing tools, such as working capital and loans for small businesses – in an area where Stellar is already active.
The press release emphasized the existing global stellar infrastructure, including the wide on-and off-ramp network, local payment systems and digital wallets, which could help Pyusd users in more than 170 countries. PayPal also emphasized the potential benefits for liquidity and settlement through Payfi, the emerging digital financing mechanism that would allow businesses to access capital in real time in Pyusd to Stellar.
May Zábaneh, Vice President of PayPal for digital currencies, he said that partnership would help to move in the use of blockchain in cross -border payments. Denelle Dixon, CEO Stellar Development Foundation, said that cooperation could help bring the practical use of Stablecoin to emerging markets and small businesses around the world.
Pyusd issues Paxos Trust Company and is fully supported by reserves with equivalent cash and cash with a fixed redemption value of $ 1.00 per token.
Before that va Short video Ian Burrill, published by Stellar Foundation, released Paypal, head of Paypal, who manages a crypto engineering team, explained why his company was enthusiastic about the start of Pyusd to Stellar. Burrill said Stellar is a fast, cheap network and expands the range of Pyusd to 180 countries plus. He continued to allow traders to use Pyusd to Stellar to send them money in real time, allowing more efficient capital management.
Technical analysis
- Stellar’s XLM token recorded a significant prices assessment during the 24 -hour business period from July 11 at 17:00 UTC to 12 July at 16:00 UTC, while shares were approximately 20.59% between $ 0.345 and $ 0.416 high and $ 0.416 high and high $ 0.416 and a high value of $ 0.416 and a high $ 0.416.
- The most important business activity occurred during the early morning hours 12 July at 01:00, UTC, when the share of XLM progressed from 0.354 to $ 0.393 to a substantial volume of $ 551.38 million units, significantly exceeding 24 hours average of $ 234.19 million and determined technical support near the price level.
- Ascending momentum persisted until 12 July at 11:00 UTC, achieved maximum session of $ 0.416 before the resistance in the range of 0.400-0.403 USD, where the institutional profitable implementation seemed to reduce further progress.
- In the last hour of trading from 12 July at 15:47 UTC to 16:46 UTC, the XLM showed a renewed force with 3.89% advance from 0.37 to $ 0.39, extending the positive momentum of the session.
- The most important movement of the price appeared between $ 16: 03-16: 08 UTC, when the shares climbed from 0.374 to $ 0.385 to an increased volume of $ 13.16 million and 17.14 million, significantly above an hourly average of 3.2 million units.
- This activity has determined technical support around 0.385-0.387 USD, where they participate in consolidated in the last 30 minutes of the session, while market participants look at the potential continuation at the level of resistance of $ 0.39-0.40 identified in wider technical analysis.
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