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PayPal Files to Launch PayPal Bank in Utah to Expand Small Business Lending

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PayPal files to launch PayPal Bank in Utah, aiming to boost small business lending and cut reliance on project partners. The proposed Utah-chartered industrial loan company will offer loans, working capital, and FDIC-insured accounts if approved. PayPal also mentioned its 420,000 global business accounts and the potential use of its stablecoin, PayPal USD (PYUSD), for lending. The token launch could support broader financial services for merchants and users.
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