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

Episode • Aug 11, 2023 • 40m

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

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