New York-based payments giant PayPal announced on August 7 that it will soon make the stablecoin PayPal USD available. This is the first time a major financial company has issued its own stablecoin.
The move was expected to be followed by major companies, but sources close to the matter revealed that this is an X.
Prior to this announcement, X had already obtained crypto licenses in seven states,
It is already ready to create an all-in social networking service that will also be able to accept payments, similar to China’s WeChat, which is what Elon Musk has in mind for X.
And it is the first in the world to introduce crypto.
Combined with Tesla’s announcement of the resumption of crypto payments, this is sure to be the biggest news of the year.
PayPal was sold to online auction giant eBay for $1.4 billion in 2002. Elon Musk, now famous as the owner of Tesla and X (Twitter), amassed a fortune of over $100 million at the age of 31.
PayPal has grown into a major corporation, continuing the path paved by Elon Musk.
This time, X, led by Eron Musk, is taking over the goal of popularizing crypto payments in the U.S. that PayPal pioneered and trying to make it a big success.
It is no coincidence that X is following in PayPal’s footsteps, as he has often expressed his deep gratitude after the sale of PayPal, saying “PayPal’s success made all my challenges possible.
PayPal, Tesla, X, the trend of large companies introducing virtual currency one after another seems unstoppable.
Keep an eye out for more announcements from companies following in X’s footsteps.
Syndicated press content is not written by ED Times
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