BFC Bulletins Monthly News Digest
PayPal’s launch of the PYUSD stablecoin has the potential to shift the cryptocurrency landscape from speculative ventures to practical payment applications. The combination of the first US financial firm (and its connections with assets like US treasuries) backing the stablecoin and the efficiency of asset-backed stablecoins in enabling faster and cheaper transactions is giving has many experts excited about the future of crypto. Given PayPal’s vast user based (including Venmo), this initiative could reshape perceptions and regulatory discussions about stablecoins and just might be the first thaw of the crypto winter.
