美國證券交易委員會（SEC）通過不採取任何執行措施來完成對Pyusd的Paypal Stablecoin調查。

美國證券交易委員會（SEC）通過不採取任何執行措施來完成對Pyusd的Paypal Stablecoin調查。

The U.S. Securities and Exchange Commission (SEC) has finished its investigation into PayPal stablecoin PYUSD without taking any enforcement measures. The organization stated this validation through its Q1 2025 financial statement after several months of speculation.

美國證券交易委員會（SEC）已經完成了對Paypal Stablecoin Pyusd的調查，而無需採取任何執行措施。經過幾個月的猜測，該組織通過其第一季度的2025年財務報表表示了這一驗證。

The SEC began its probe into PYUSD in November 2023 and concluded it in February 2025. It demanded records from PayPal regarding its stablecoin operations and activities.

SEC於2023年11月開始對Pyusd進行調查，並於2025年2月結束。它要求Paypal的記錄有關其Stablecoin運營和活動。

In response, the company supplied the entire investigative data set that the investigation demanded. According to the latest statement from the SEC, it has officially closed this matter while waving all further investigations.

作為回應，該公司提供了調查要求的整個調查數據集。根據SEC的最新聲明，它在揮舞著所有進一步調查的同時正式關閉了此事。

During Q1 2025, PayPal unveiled its financial results, which exceeded market expectations. At the same time, PayPal presented both financial results and detailed its share repurchase achievements to investors during its period of financial announcement.

在2025年第1季度，PayPal推出了其財務業績，超出了市場期望。同時，貝寶（PayPal）在財務公告期間向投資者介紹了財務業績，並詳細介紹了其股份回購成就。

Regulatory Cases Draw to a Close

監管案件結束

The regulatory probe into digital assets has now drawn to a close as a new regulatory stance emerges regarding digital assets.

隨著關於數字資產的新監管立場，對數字資產的監管探測已經結束。

In August 2023, PayPal introduced PYUSD to create an authoritative cryptocurrency solution connected with the dollar value.

2023年8月，PayPal引入了PYUSD，以創建與美元價值相關的權威加密貨幣解決方案。

PYUSD provides its backing through U.S. dollar deposits as well as Treasury bills and equivalent cash assets. Its redemption value matches exactly the U.S. dollar at one unit to one unit.

Pyusd通過美元存款以及國庫券和同等現金資產提供支持。它的兌換價值與一個單位的美元與一個單位完全匹配。

PYUSD measures low market share in the stablecoin sector, where Tether and Circle control the majority share. The market value of PYUSD amounted to approximately $880 million when measured in April 2025.

Pyusd衡量了Stablecoin領域的低市場份額，Tether and Circle控制了大多數份額。在2025年4月衡量時，PYUSD的市場價值約為8.8億美元。

The current market value of Tether amounts to $148.5 billion, while PYUSD accounts for only 0.7% of this total.

當前的繩索價值為1485億美元，而Pyusd僅佔總數的0.7％。

However, the popularity of the PYUSD stablecoin is increasing as it moves forward in its competition against dominant rivals. Since the beginning of 2025, the supply of the stablecoin has expanded by 75 percent.

但是，隨著與主導競爭對手的競爭，Pyusd Stablecoin的受歡迎程度正在越來越高。自2025年初以來，Stablecoin的供應增長了75％。

At present, the PYUSD total circulation stands just short of the supply levels established in August 2024.

目前，PYUSD總流通量僅為2024年8月建立的供應水平。

The company also plans to pay U.S. users holding PYUSD 3.7% per year in its loyalty program. By launching this program, PayPal hopes to gain more users and strengthen the stablecoin’s essential role throughout its platform.

該公司還計劃向持有Pyusd的用戶支付其忠誠度計劃3.7％的費用。通過啟動此計劃，PayPal希望能夠吸引更多用戶，並在其整個平台中加強Stablecoin的重要作用。

The strategy aims to establish PYUSD’s competitiveness against its market competitors.

該戰略旨在建立Pyusd對其市場競爭對手的競爭力。

Moreover, PayPal formed a strategic alliance with Coinbase to enhance the availability of its stablecoin across various platforms and services.

此外，PayPal與Coinbase建立了戰略聯盟，以增強其在各種平台和服務上的穩定性的可用性。

Under this partnership, the companies aim to open digital asset applications using PYUSD as their foundation. The company works to enhance the stablecoin ecosystem and expand usage to reach more users.

在這種合作夥伴關係下，兩家公司的目標是以Pyusd為基礎開設數字資產應用程序。該公司致力於增強Stablecoin生態系統並擴大用法以吸引更多用戶。

The recent clearance allows PayPal to expand the distribution of PYUSD in the digital finance industry. As part of its growth strategy, the company has designed newer user-oriented capabilities.

最近的批准使PayPal能夠在數字金融行業擴大PYUSD的分佈。作為其增長戰略的一部分，該公司設計了新的面向用戶的功能。

The planned developments indicate that PYUSD has prospects to succeed in the digital currency market in the long run.

計劃的發展表明，從長遠來看，Pyusd具有在數字貨幣市場上取得成功的前景。