1330 ET -- PayPal is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. PayPal said it's offering its own dollar-pegged cryptocurrency, a move that expands its reach into the digital-assets space. PayPal already lets U.S. customers sell, buy and hold select cryptocurrencies. PayPal USD will be redeemable for $1. Stablecoins make it easier to buy cryptocurrencies such as bitcoin, ether and dogecoin because the price is only moving on one side and the trades settle more quickly than with government-issued currencies. Dow Jones & Co. owns Factiva. (matthew.walker@dowjones.com)


(END) Dow Jones Newswires

08-07-23 1351ET