The Defiant - DeFi Podcast Inside PayPal's Blockchain Strategy: Insights from the Head of Crypto
32 snips
May 27, 2024 
Jose Fernandez da Ponte, Head of Crypto at PayPal, discusses PayPal's crypto journey, including their motivation for entering the space, available crypto applications, PYUSD stablecoin creation, and strategies for mass adoption of blockchain technology. Topics covered include PayPal's evolution in crypto, PYUSD stablecoin evolution, smart custody solutions, monetization strategies, passing on yield in stablecoins, PYUC integration in DeFi, and the rise of PYUSD in DeFi.
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PayPal's Crypto Journey
- PayPal's crypto journey began in 2019, exploring blockchain for next-gen payments.
- Initial research revealed potential for significantly cheaper transactions, sparking interest in mainstream crypto adoption.
Crypto's Role in Payments
- Consumers primarily view crypto as assets, not payment instruments.
- Crypto payments will likely emerge first in cross-border transactions, B2B, and digital goods before mainstream B2C adoption.
Wallet Interoperability
- Digital currencies enable wallet interoperability, solving a key payments challenge.
- This allows seamless transfers between different wallets, like PayPal and Venmo, without needing the same app.