Unchained

PayPal Would Need These Two Things In Order to Issue a Stablecoin - Ep.290

Nov 16, 2021
Guest
Jose Fernandez da Ponte
Jose Fernandez da Ponte, PayPal’s Senior VP and GM of Blockchain, Crypto, and Digital Currencies, shares insights on PayPal's crypto strategy. He discusses the demographic shift toward crypto users, PayPal's potential stablecoin, and its collaboration with Paxos for transaction settlements. Jose highlights the impact of crypto features on Venmo's activity, and the future of CBDCs. He addresses regulatory needs and the interplay between central bank digital currencies and stablecoins, emphasizing technology's role in shaping the digital currency landscape.
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ANECDOTE

Increased Engagement

  • PayPal CEO Dan Schulman observed that users who bought crypto logged in twice as often.
  • He predicted this would increase user loyalty and overall payments.
INSIGHT

PayPal's Crypto Strategy

  • PayPal aims to increase crypto accessibility for non-experts through a trusted brand.
  • They also focus on utility by enabling crypto payments at millions of merchants.
ANECDOTE

Venmo Crypto Adoption

  • Venmo's payment volume jumped 36% after introducing crypto, but it's too early to credit crypto.
  • The Venmo credit card's crypto rewards feature is driving initial engagement.
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