Will PayPal's PYUSD Steal Market Share From Tether and Circle? - Ep. 530

A major player has entered the stablecoin wars. PayPal went deeper down the crypto rabbithole this week with the launch of its Ethereum-based PYUSD. The dollar-backed stablecoin now puts PayPal in competition with the likes of Tether and Circle for quickly sending value around the world on-chain. José Fernández da Ponte, PayPal’s crypto SVP, joins the show to unpack how the fintech giant is building a long-term strategy around blockchain-based payments.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:

why PayPal decided to launch a stablecoin

how long it will take for stablecoins to reach mainstream adoption and what the advantages of stablecoins are

how PYUSD will differentiate from other giants in the stablecoin space such as USDT and USDC

whether the U.S. stablecoin bill influenced the launch of PYUSD

why stablecoins should be regulated at the state level

whether PayPal plans to launch stablecoins pegged to other fiat currencies

how Paxos will provide attestation reports for PYUSD

why Jose thinks gaming is a huge opportunity for stablecoin payments

what the rationale was for launching an ERC-20 on Ethereum

how PayPal plans to monetize the stablecoin

why PayPal’s expectations for PYUSD in the short-term are “moderate”

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Guest
José Fernández da Ponte, SVP of Blockchain, Crypto and Digital Currencies at PayPal
Links

Unchained: PayPal Launches PYUSD Stablecoin Built on Ethereum

CoinDesk:

PayPal’s Real Stablecoin Strategy: It Wants to Earn Interest on Your Deposits

Congresswoman Maxine Waters Says She’s ‘Deeply Concerned’ About PayPal’s New Stablecoin

U.S. Stablecoin Bill Takes Big Step Despite Fight From Democrats, White House

Paxos Has Other 'White Label' Stablecoin Opportunities in the Works in Addition to PayPal USD

Blockworks: PayPal’s new stablecoin stirs centralization criticism

CNBC: PayPal is trying to drag its 435 million users into the $120 billion stablecoin market — here's why

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