That restriction will likely lift in time, and PayPal may ultimately onboard more people into crypto than Coinbase (108 million at last count). And even if only a fraction of those customers ever interact with Web3 beyond PayPal this doesn’t have to cheapen crypto’s purity (which frankly has already been tainted). It’s not like the existence of PYUSD means bitcoin or ether or dai will disappear. And as Austin Campbell, who formerly managed the BUSD stablecoin reserves at Paxos, wrote: “A player like PayPal entering the field is material, for credibility, for access, for public education and to force everyone else to start grappling with the reality of blockchains and the types of commercial applications they enable.”
Related posts
-
Crypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter
The crypto market is in a state of panic with a market-wide crash that has shaken... -
UAE’s Zand Bank to Offer Crypto Services
Zand Bank, the UAE’s first digital bank, has entered... -
Opera’s Minipay Expands Stablecoin Support: Adds USDC and USDT to Its Digital Wallet
Minipay, an integral feature of the Opera Mini browser,...