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Inside PayPal's Blockchain Strategy: Insights from the Head of Crypto
The Defiant - DeFi Podcast
Evolution of Crypto Integration in PayPal
PayPal started offering a gateway for crypto beginners to dip into the ecosystem without the hassle of self-custody, attracting both novices and advanced users seeking convenience. The platform initially provided access to four tokens and expanded internationally. Enabling on-chain transfers in 2022 transformed user profiles, attracting more seasoned users appreciating easy on-ramps to interact with the Web3 ecosystem via PayPal and Venmo. The launch of PYUSD stablecoin in 2023 further enhanced PayPal's offerings with good distribution and a focus on payment use cases. The goal remained centered on revolutionizing payment rails, targeting customer-to-customer, commerce, and business-to-business payments. PayPal's stablecoin integration in various experiences, including Zoom for remittance, has been successful, offering reduced transaction fees and expanding usage across markets.
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