Unchained Will PayPal's PYUSD Steal Market Share From Tether and Circle? - Ep. 530
Aug 11, 2023
José Fernández da Ponte, PayPal’s Senior VP of Blockchain and Crypto, dives into the launch of PYUSD, PayPal's new Ethereum-based stablecoin. He discusses the competitive landscape against Tether and Circle, and why stablecoins are crucial for remittances and B2B transactions. José emphasizes the importance of regulatory compliance and transparency in building user trust. He shares insights on the potential of stablecoins in online gaming and addresses how PYUSD plans to differentiate itself while navigating the evolving regulatory landscape.
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PayPal's Vision for PYUSD
- PayPal aims to bridge traditional finance and Web3 for mainstream payment adoption.
- PYUSD stablecoin launch is a key step in this journey, focusing on payments.
Stablecoin Advantages
- Stablecoins offer advantages in cost, programmability, and especially settlement time.
- Faster settlement times are crucial for payments, as "faster is cheaper."
PYUSD Differentiation
- PYUSD leverages the PayPal ecosystem, offering access to millions of users and merchants.
- It simplifies fiat connectivity and boasts robust compliance and regulation.
