KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
PayPal Holdings Inc. has completed its first business payment using its proprietary stablecoin , PYUSD, showcasing how digital currencies can streamline commercial transactions . On Sept 23 , PayPal used PYUSD to pay an invoice to Ernst & Young LLP through SAP SE’s digital currency hub , which facilitates instant digital payments. Stablecoins, like PYUSD, are cryptocurrencies designed to maintain a one-to-one value with traditional currencies such as the US dollar. With a current market capitalization of nearly US$700 million , PYUSD is primarily consumer-focused, but this transaction highlights its potential in business-to-business payments . Stablecoins offer faster settlement , particularly for cross-border payments , which can often be expensive and time-consuming . Jose Fernandez da Ponte , PayPal’s senior VP of blockchain and digital currencies, noted the benefits for enterprises, especially in providing speed and availability of settlement, reducing reliance on third pa...