IMHO, PayPal has already embraced it. They are still in the learning stage and conducting what will be the implication and results of their actions. What makes me worry is if they will start to ride the exchanges and will build their own "DEX". Just like Binance as a known exchange, they are into innovation and development. Wherever the development will bring them, they'll go and do it because they can.
Paypal s a greedy profit driven company they want to explore Cryptocurrency and at the same time would like to retain features that continue to make them money, Decentralized exchange has become so very popular, we never know if PayPal would like to be one of the player, but where the money is PayPla will definitely explore that.