SINGAPORE – Singapore-based cryptocurrency payment firm Triple-A has added American company PayPal’s digital coin to its offerings as it moves to expand its reach in the United States and globally.
A stablecoin is a digital token typically pegged on a one-to-one basis with fiat such as the US dollar, euro or other assets. This is on top of other digital currencies the firm already processes – Bitcoin; Ether; StraitsX’s Singapore dollar-backed stablecoin XSGD; US dollar-backed stablecoin USDC that is managed by global payment firm Circle; and stablecoin Tether, also known as USDT.
Launched in August 2023, PYUSD’s market capitalisation has more than doubled while daily transaction volumes have surged by over 600 per cent.
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