Digital Transactions

PayPal’s Next Step: Setting up an Industrial Bank to Reduce Third-Party Reliance

PayPal Holdings Inc. is embarking on another stage in its evolution with its application for a Utah-chartered industrial loan ...
CoinDesk

PayPal, issuer of PYUSD, applies for Utah industrial bank license

The company behind the PYUSD stablecoin said it wants to offer business lending and interest-bearing savings accounts.
AOL

Should you replace your bank account with PayPal?

PayPal can be used like a bank in some ways, with tools for spending, saving and accessing cash — but it’s a fintech company, not a regulated bank. Some PayPal funds are FDIC-insured up to ...
NBC Los Angeles

Money stored in Venmo, PayPal, CashApp aren't FDIC insured and may be at risk, watchdog finds

Customers of Venmo, PayPal and CashApp should not store their money for the long term with these apps because their funds might not be safe during a crisis, the Consumer Financial Protection Bureau ...