Paxos partners with Hashnote to facilitate integrated conversion of PYUSD and USYC

Digital asset management company Hashnote has announced that it will partner with Paxos to facilitate a “bi-directional atomic settlement process” that allows for instant conversions between the yield-generating USYC token and PayPal’s stablecoin. Leo Mizuhara, CEO of Hashnote, said that being able to instantly mint and exchange between PYUSD and USYC not only enhances liquidity but also puts all stakeholders at the forefront of revenue generation in the digital asset space. Data shows that PYUSD’s market capitalization exceeded $300 million at the beginning of the year, but shrank significantly in March. (TheBlock)