Something tells me that this will be a terribly regulated stablecoin that will be blocked even worse than USDT. PayPal is notorious for blocking transactions they don't like, and given this fact, even more so:
“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,”
I won’t be surprised if this stablecoin can only be bought on their platform, having previously passed KYC.
It would be, they are going to make sure that everything goes according to the 'regulators' which is kinda sucks but thats paypal for you and they cant go against these 'regulators'. It could even be just the same as regular fiat just in the form of 'stablecoin' of their own version, there isnt that much information regarding this yet
I wonder what's next? Crypto exchange from Paypal, DEX, P2P exchange, DeFi protocol?
Imo, this would be lit. Imagine if paypal start offering this and then some other top company try to build this as well. It would push crypto adoption further somehow
This may possibly happen in the very near future. They already started integrating some top alts.
And now, creating their own stablecoin. So no surprise if they will create their own crypto exchange or p2p crypto exchange.
If they will see the market demand on this kind of service, high likely that they will explore this business.
Their advantage is that they already have millions of users. So attracting users to use their services won't be a hurdle to them.
But for crypto users in this forum, most of them will not patronize crypto from paypal, because a lot are worried about their privacy.