Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGS: $PYPL) (NasdaqGM: $BITF) (TSXV: $WFLD.V)

Monday, August 07, 2023

#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGS: $PYPL) (NasdaqGM: $BITF) (TSXV: $WFLD.V)

#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGS: $PYPL) (NasdaqGM: $BITF) (TSXV: $WFLD.V)

PayPal Launches USD Stablecoin, Bitfarms Starts Deployment Plan in Paraguay, and Wellfield Acquires Interest in Bosonic

Vancouver, Kelowna, Delta, BC August 7, 2023 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

Today’s podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2023/080723-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2023/crypto-corner/08071PYPL-BITF-WLFD.asp

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Stocks discussed: (NasdaqGS:PYPL) (NasdaqGM:BITF) (TSXV:WLFD)

PayPal Holdings, Inc. (NasdaqGS:PYPL) has announced the launch of a U.S. dollar-denominated stablecoin, called PayPal USD (PYUSD). PayPal USD is 100 percent backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents, is redeemable 1:1 for U.S. dollars, and is issued by Paxos Trust Company. Dan Schulman, PayPal’s President and CEO, said:

"The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar. Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD."

Bitfarms Ltd. (NasdaqGM:BITF) has initiated its first phase of development for its recently acquired 150 MW hydropower contracts in Paraguay. The company will be building a new 50 MW farm at Paso Pe, Paraguay – near its Villarrica, Paraguay facility – and it expects the new farm to be fully commissioned at 50 MW in Q1 2024. Geoff Morphy, Bitfarms’ CEO, explained:

“Achieving high operating efficiencies while minimizing capex is an overarching goal in our global growth strategy heading into next year’s halving. Based on our experience in the jurisdiction, Paraguay affords both low building costs and fast time to completion. We will construct a 50 MW substation to power a 30 MW air-cooled warehouse and install 20 MW of containers specifically built for MicroBT M53S+ hydro-cooled miners, all of which are being purchased with vendor credits. These credits significantly reduce our overall cash outlay and will leverage cash-on-cash returns.”

Wellfield Technologies Inc. (TSXV:WFLD) has announced an acquisition of interest in Bosonic, Inc. through a definitive share exchange agreement with Earth Corporation (EarthCo). Bosonic, according to the press release, “develops unique technology that facilitates the trading, clearance, and settlement of digital assets and digital asset securities, with a focus on eliminating counterparty credit and settlement risk on centralized exchanges.” In a prior press release, Wellfield CEO Levy Cohen commented:

"At Wellfield, we're dedicated to pioneering advancements in the blockchain and decentralized finance ecosystem. As a part of this commitment, we are thrilled to announce our proposed strategic investment in Bosonic Inc. This investment embodies our ongoing strategy to, not only meet, but exceed the expectations of our high-net-worth and institutional investors at Wellfield Capital who demand reliable and secure liquidity solutions from both decentralized and traditional exchanges.”

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

Podcast sponsor:

AppTech Payments Corp. (NasdaqCM:APCX) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. Commerse™, its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today’s commerce experiences. For more information, visit apptechcorp.com.

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