美国证券交易委员会（SEC）通过不采取任何执行措施来完成对Pyusd的Paypal Stablecoin调查。

美国证券交易委员会（SEC）通过不采取任何执行措施来完成对Pyusd的Paypal Stablecoin调查。

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.

美国证券交易委员会（SEC）已经完成了对Paypal Stablecoin Pyusd的调查，而无需采取任何执行措施。经过几个月的猜测，该组织通过其第一季度的2025年财务报表表示了这一验证。

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于2023年11月开始对Pyusd进行调查，并于2025年2月结束。它要求Paypal的记录有关其Stablecoin运营和活动。

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.

作为回应，该公司提供了调查要求的整个调查数据集。根据SEC的最新声明，它在挥舞着所有进一步调查的同时正式关闭了此事。

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推出了其财务业绩，超出了市场期望。同时，贝宝（PayPal）在财务公告期间向投资者介绍了财务业绩，并详细介绍了其股份回购成就。

Regulatory Cases Draw to a Close

监管案件结束

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

随着关于数字资产的新监管立场，对数字资产的监管探测已经结束。

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，以创建与美元价值相关的权威加密货币解决方案。

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通过美元存款以及国库券和同等现金资产提供支持。它的兑换价值与一个单位的美元与一个单位完全匹配。

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领域的低市场份额，Tether and Circle控制了大多数份额。在2025年4月衡量时，PYUSD的市场价值约为8.8亿美元。

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

当前的绳索价值为1485亿美元，而Pyusd仅占总数的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，随着与主导竞争对手的竞争，Pyusd Stablecoin的受欢迎程度正在越来越高。自2025年初以来，Stablecoin的供应增长了75％。

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

目前，PYUSD总流通量仅为2024年8月建立的供应水平。

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.

该公司还计划向持有Pyusd的用户支付其忠诚度计划3.7％的费用。通过启动此计划，PayPal希望能够吸引更多用户，并在其整个平台中加强Stablecoin的重要作用。

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

该战略旨在建立Pyusd对其市场竞争对手的竞争力。

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

此外，PayPal与Coinbase建立了战略联盟，以增强其在各种平台和服务上的稳定性的可用性。

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.

在这种合作伙伴关系下，两家公司的目标是以Pyusd为基础开设数字资产应用程序。该公司致力于增强Stablecoin生态系统并扩大用法以吸引更多用户。

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能够在数字金融行业扩大PYUSD的分布。作为其增长战略的一部分，该公司设计了新的面向用户的功能。

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

计划的发展表明，从长远来看，Pyusd具有在数字货币市场上取得成功的前景。