CoinDesk Podcast Network
MARKETS DAILY: Crypto Update | How PayPal Plans to Bring 400M Users to Crypto
Apr 25, 2025
Jose Fernandez da Ponte, Senior Vice President of Blockchain at PayPal, shares insights into the payment giant's game-changing plans. He reveals how PayPal intends to onboard 400 million users into crypto through their new PYUSD rewards program. The discussion highlights strategies for encouraging stablecoin adoption, the partnership with Coinbase to boost DeFi innovations, and the importance of regulatory clarity in the U.S. Join them as they explore the future of stablecoins and their role in reshaping the payments landscape.
15:12
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Quick takeaways
- PayPal's new rewards program linked to PYUSD aims to enhance user adoption of stablecoins and stimulate mainstream interest in crypto.
- The partnership with Coinbase allows PayPal to explore decentralized finance applications for PYUSD, expanding its functionality beyond traditional finance.
Deep dives
Competitive Strategies for Stablecoins
PayPal aims to enhance mainstream access to digital currencies by implementing strategies that include increasing the variety of tokens available for users. The company has initiated a rewards program linked to its stablecoin, PYUSD, which viewers were advised is distinct from traditional yield programs. By strategically targeting both crypto enthusiasts and mainstream consumers, PayPal hopes to address the cold start problem, making it easier for users to adopt stablecoins, particularly in competitive markets. The company envisions growing the overall stablecoin market, suggesting that reaching a $1 trillion market cap is feasible rather than merely competing for existing market shares.
