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So PayPal and Apple Pay are securities? forbes.com/sites/steveneh

Text Shot: Clayton: My view is that if you look at the function that the product is providing and compare that to the incumbent space, you have a very good handle on the regulation that applies or is likely to apply. Stablecoins are a good example. A stablecoin that promises $1 back to you, in exchange for the coin, and is backed by cash is one item. Such a coin that is backed by commercial paper, whether it’s 30,…

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Jesse Powell

@jespow

Replying to

@jerrybrito

PayPal actually used to run a money market fund that clients could opt in to but they discontinued it in 2011.

paypal-community.com

The PayPal Money Market Fund Is Closing

FAQ’s I received an email stating that the PayPal Money Market Fund will be closing. Is this true? That’s correct. We will be retiring our Money Market Fund product on July 29, 2011. Why are you...

5:21 PM · Oct 6, 2021Twitter for iPhone

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and

As did Alipay (was China's largest at one point, if Im not mistaken)

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The way one could distinguish such a money market fund from a balance account (at least superficially) is that a MMF promises returns to the depositor. 🤷

34 Hanakookie

@Hanakookie1

Oct 6, 2021

My sweep fund with TDAmeritrade is a money market fund. It draws very little internet bc it’s only in short term securities. But it trades as a securities even though it’s just cash. It’s very normal.

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and

i vividly recall that money market fund. it was fantastic. with returns better than all others.