PayPal Holdings announced on Thursday that it had been served with a subpoena from the Securities and Exchange Commission (SEC) in connection with its U.S. dollar stablecoin.

In August, the company made history by becoming the first significant financial technology firm to adopt digital currencies for payments and transfers.

Stablecoins are cryptocurrency tokens designed to maintain a stable value by being linked to a dependable asset, shielding potential investors from extreme price fluctuations.

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