A major player has entered the stablecoin wars. PayPal went deeper down the crypto rabbithole this week with the launch of its Ethereum-based PYUSD. The dollar-backed stablecoin now puts PayPal in competition with the likes of Tether and Circle for quickly sending value around the world on-chain. José Fernández da Ponte, PayPal’s crypto SVP, joins the show to unpack how the fintech giant is building a long-term strategy around blockchain-based payments.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
- why PayPal decided to launch a stablecoin
- how long it will take for stablecoins to reach mainstream adoption and what the advantages of stablecoins are
- how PYUSD will differentiate from other giants in the stablecoin space such as USDT and USDC
- whether the U.S. stablecoin bill influenced the launch of PYUSD
- why stablecoins should be regulated at the state level
- whether PayPal plans to launch stablecoins pegged to other fiat currencies
- how Paxos will provide attestation reports for PYUSD
- why Jose thinks gaming is a huge opportunity for stablecoin payments
- what the rationale was for launching an ERC-20 on Ethereum
- how PayPal plans to monetize the stablecoin
- why PayPal’s expectations for PYUSD in the short-term are “moderate”
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