News

PayPal Introduces A Stablecoin That’s Pegged With US Dollar

PayPal USD can be used to make purchases or pay other users.

Published

2 years ago

August 8, 2023

paypal introduces a stablecoin that's pegged with us dollar

Almost three years after adding cryptocurrency support for all US accounts, PayPal has launched its own stablecoin pegged against the US dollar. The new coin, known as PayPal USD, is “100 percent backed by US dollar deposits, short-term US Treasuries and similar cash equivalents,” according to the company.

PayPal went on to explain that its coin is issued on the Ethereum blockchain by the Paxos Trust Company, which is overseen by the New York State Department of Financial Services. The company also obtained a BitLicense from the NYDFS in June 2022.

PayPal USD coins can be bought and sold for $1 each. The currency can be used to purchase goods and services by selecting the option during any checkout session with PayPal. Users can also transfer the new cryptocurrency to external wallets or convert them to other coins in their accounts.

Also Read: A Guide To Digital Payment Methods In The Middle East

In a recent interview with Reuters, Ian Katz, managing director of Capital Alpha Partners, noted that the stablecoin could soon be in the sights of the Federal Reserve and the Securities and Exchange Commission. Time will tell if the company’s crypto venture can become a success.

News

Google Pay Launches In Lebanon With Support From Multiple Banks

Bank Audi, Neo Digital Bank, and Whish Money are all offering support for Mastercard and Visa cardholders.

Published

2 weeks ago

June 25, 2025

Nour Nasir

google pay launches in lebanon with support from multiple banks

neo Bank Audi

Google Pay has officially launched in Lebanon, allowing Android users to make secure, contactless payments via their smartphones. The rollout has been quickly supported by BLOM, BLF, Whish Money, Bank Audi, and its digital banking offshoot Neo Digital Bank. Customers of all three services can now add eligible Mastercard and Visa payment cards to their Google Wallets.

The integration enables in-store tap-to-pay transactions, as well as online and in-app purchases, using the same cards users already carry. For Bank Audi and Neo Digital Bank, the launch covers Mastercard products; for Whish Money, BLOM, and BLF it includes Visa cards. Payments are processed through the Google Pay platform, which maintains cardholder privacy while extending standard card protections.

To begin using the service, customers can download the Google Wallet app from Google Play, select “Add to Wallet,” and follow a short verification process. Once set up, payments can be made with a single tap — eliminating the need to carry physical cards or cash.

Also Read: Oakley And Meta Reveal Performance-Focused AI Smart Glasses

“This launch represents a significant milestone in our commitment to digital innovation and customer convenience,” said Toufic Koussa, CEO at Whish Money. “By making Whish Visa Card available on Google Pay, we’re enabling our customers to make everyday transactions faster, more secure, and more inclusive. It’s about giving them the tools they need to transact seamlessly, wherever they are”.

The move follows the official activation of Google Pay in Lebanon on June 24, 2025, and marks a notable expansion of mobile payment options in a market where Apple Pay has yet to gain traction. Google’s entry is expected to increase digital wallet adoption among Android users and pave the way for further collaborations with regional financial institutions.