JOURNAL ARTICLE

PayPal's push into stablecoins could pay off big-time.

  • Published In: Fortune.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Roberts, Jeff John 3 of 3

Abstract

The article focuses on PayPal's recent announcement of its stablecoin, PYUSD, which is built on the Ethereum blockchain and intended for U.S. customers for payments and transfers. While the launch has generated some excitement, critics highlight concerns about the centralized nature of PYUSD and the outdated code used in its development, which may deter crypto enthusiasts. However, PayPal's extensive customer base and merchant network could facilitate adoption, despite the stablecoin's current limitation to U.S. transactions. The company appears to be strategically positioning itself for future growth in the crypto space, potentially leading to a broader global payment network in the coming years. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2023/08, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2023
  • Accession Number:169848023
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