PYUSD a.k.a Paypal USD

[suzanne5223]

After reading the news I was surprised about the real motive of the PayPal team to create another stablecoin into the market not to talk about the stablecoin being issued by Paxos Trust Company which has issued a lot of stablecoin before since Paxos Trust Company is regulated by the New York State Department of financial services (NYDFS) I expect nothing but just a total centralized stablecoin to control people.

That's what it really is, these companies are making stable coins for their own sake. It's nothing new since we've been stuck in the system where the central bank have been printing our money ever since. With this system that they're trying to built, we're going to start the companies printing their own stable coins soon and this is aside from the CBDCs that we're seeing left and right.

I think the major reason why they create their own stablecoin will be due to the issue that happened with some de-peg stablecoin and I am sure that in the next coming days, they will claim to create a stablecoin won't experience any de-peg issue.
I just hope the investors will open their eyes and if they can be sure of what to do they should hold their crypto in BTC  INSTEAD.

That's always been the goal of any stable coin, they were established by other projects because of the depegging, but for sure there will be time that majority of them will be de-peg.

Maybe there could be internal issues or there could be some problems with regulators, like what what USDT had in their beginner.

But the good thing is that there will be lots of options with the inclusion of Paypal and what makes them difference as they are a big company.

Maybe but we have some stablecoin which the depeg is not the reason for it establishment and they are created to address the issues in the stablecoin market.  An example is Utopia USD aka UUSD which is the only privacy stablecoin.
Having said that, I never like the idea of regulated stablecoin because it's against to concept of decentralization. However, stablecoin loosing some cent or having $0.99 price doesn't mean it depeg because the USD also loose have at some point due to inflation.

[Abiky]

They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos.

It's supposed to maintain a $1USD value and backed up by the following:
- Dollar deposits
- US treasuries
- Cash equivalents.

Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet. Are conversion rates supposed to be higher or trade fees become lower for PYUSD pairs?

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd

I think this new stablecoin is nothing but pure hype. It doesn't bring anything new to the table. PYUSD is just like Tether and USD Coin but with PayPal's branding. Those who have an account on PayPal will be able to access PYUSD directly for goods and/or services. The company is just trying to get into the crypto/Blockchain train. Binance USD is also issued by Paxos (the same issuer of PYUSD), and it's been facing issues with the regulators recently.

Don't expect PayPal to be treated any better, especially when "The FED" doesn't want to lose control/dominance over the USD. If Facebook's planned stablecoin turned into a failure, I would expect the same to happen with PYUSD in the long run. Things could turn into another direction if the US eases off its crypto regulations. No one can predict the future, so we can only hope for the best. Just my thoughts

[Hispo]

They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos.

It's supposed to maintain a $1USD value and backed up by the following:
- Dollar deposits
- US treasuries
- Cash equivalents.

Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet. Are conversion rates supposed to be higher or trade fees become lower for PYUSD pairs?

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd

I think this new stablecoin is nothing but pure hype. It doesn't bring anything new to the table. PYUSD is just like Tether and USD Coin but with PayPal's branding. Those who have an account on PayPal will be able to access PYUSD directly for goods and/or services. The company is just trying to get into the crypto/Blockchain train. Binance USD is also issued by Paxos (the same issuer of PYUSD), and it's been facing issues with the regulators recently.

Don't expect PayPal to be treated any better, especially when "The FED" doesn't want to lose control/dominance over the USD. If Facebook's planned stablecoin turned into a failure, I would expect the same to happen with PYUSD in the long run. Things could turn into another direction if the US eases off its crypto regulations. No one can predict the future, so we can only hope for the best. Just my thoughts

The people at Paypal may be greedy, but they are not stupid.
They are aware that the FED case against Paxos corcerning the circulation of BUSD will likely end up in favor of Paxos. In that case, they may indeed try to jump onto the train of the stablecoin market before it is too late.

Perhaps they realized that there are more people who have moved off pure Fiat wallets towards exchanges to keep their money there, and in order not to lose more clients/users, Paypal probably tries to connect their service with exchanges so people can move those tokens from Binance/Coinbase towards paypal easier, using a deposit wallet and turning those tokens to Paypal USD.

On the other hand, if Paxos loses the lawsuit then it would be a strong precendent for the United States government tk shut down all projects related to stablecoins in their territory, leaving an open path for the future CBD they will likely launch soon.

[Godday]

They named it Paypal USD to make people think that the stable coin has something to do with Paypal. I did not find a single article saying that Paypal has developed their stable coin and what this project is doing is purely what USDC or Tether have done. I don't think it's good to collect a lot of stable coins and only focus on USDT. That is my personal opinion hehe.

[carlisle1]

They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos.

It's supposed to maintain a $1USD value and backed up by the following:
- Dollar deposits
- US treasuries
- Cash equivalents.

Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet. Are conversion rates supposed to be higher or trade fees become lower for PYUSD pairs?

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd

I think this new stablecoin is nothing but pure hype. It doesn't bring anything new to the table. PYUSD is just like Tether and USD Coin but with PayPal's branding. Those who have an account on PayPal will be able to access PYUSD directly for goods and/or services. The company is just trying to get into the crypto/Blockchain train. Binance USD is also issued by Paxos (the same issuer of PYUSD), and it's been facing issues with the regulators recently.

Don't expect PayPal to be treated any better, especially when "The FED" doesn't want to lose control/dominance over the USD. If Facebook's planned stablecoin turned into a failure, I would expect the same to happen with PYUSD in the long run. Things could turn into another direction if the US eases off its crypto regulations. No one can predict the future, so we can only hope for the best. Just my thoughts

The people at Paypal may be greedy, but they are not stupid.
They are aware that the FED case against Paxos corcerning the circulation of BUSD will likely end up in favor of Paxos. In that case, they may indeed try to jump onto the train of the stablecoin market before it is too late.

Perhaps they realized that there are more people who have moved off pure Fiat wallets towards exchanges to keep their money there, and in order not to lose more clients/users, Paypal probably tries to connect their service with exchanges so people can move those tokens from Binance/Coinbase towards paypal easier, using a deposit wallet and turning those tokens to Paypal USD.

On the other hand, if Paxos loses the lawsuit then it would be a strong precendent for the United States government tk shut down all projects related to stablecoins in their territory, leaving an open path for the future CBD they will likely launch soon.

There's a possibility that Paxos might win this case and, like what you mentioned, PayPal is playing their cards trying to ride with the train
and taking this risk if in case the direction favors their side.

Though same deal with the post above you, there's always a chance that the government will chase the project. There're no exemptions as they
wanted to make sure that there's no one who can dominate in terms of controlling the situation.

It's more on a gambling type project for PayPal. If destiny favors them, we might see good implication to the business, if not
expect that downfall will be experienced, especially to those who will try this stable coin to pair it with their crypto assets.

[Hispo]

They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos.

It's supposed to maintain a $1USD value and backed up by the following:
- Dollar deposits
- US treasuries
- Cash equivalents.

Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet. Are conversion rates supposed to be higher or trade fees become lower for PYUSD pairs?

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd

I think this new stablecoin is nothing but pure hype. It doesn't bring anything new to the table. PYUSD is just like Tether and USD Coin but with PayPal's branding. Those who have an account on PayPal will be able to access PYUSD directly for goods and/or services. The company is just trying to get into the crypto/Blockchain train. Binance USD is also issued by Paxos (the same issuer of PYUSD), and it's been facing issues with the regulators recently.

Don't expect PayPal to be treated any better, especially when "The FED" doesn't want to lose control/dominance over the USD. If Facebook's planned stablecoin turned into a failure, I would expect the same to happen with PYUSD in the long run. Things could turn into another direction if the US eases off its crypto regulations. No one can predict the future, so we can only hope for the best. Just my thoughts

The people at Paypal may be greedy, but they are not stupid.
They are aware that the FED case against Paxos corcerning the circulation of BUSD will likely end up in favor of Paxos. In that case, they may indeed try to jump onto the train of the stablecoin market before it is too late.

Perhaps they realized that there are more people who have moved off pure Fiat wallets towards exchanges to keep their money there, and in order not to lose more clients/users, Paypal probably tries to connect their service with exchanges so people can move those tokens from Binance/Coinbase towards paypal easier, using a deposit wallet and turning those tokens to Paypal USD.

On the other hand, if Paxos loses the lawsuit then it would be a strong precendent for the United States government tk shut down all projects related to stablecoins in their territory, leaving an open path for the future CBD they will likely launch soon.

There's a possibility that Paxos might win this case and, like what you mentioned, PayPal is playing their cards trying to ride with the train
and taking this risk if in case the direction favors their side.

Though same deal with the post above you, there's always a chance that the government will chase the project. There're no exemptions as they
wanted to make sure that there's no one who can dominate in terms of controlling the situation.

It's more on a gambling type project for PayPal. If destiny favors them, we might see good implication to the business, if not
expect that downfall will be experienced, especially to those who will try this stable coin to pair it with their crypto assets.

Even if there was not a lawsuit against Paxos going on, Paypal does not have many choices but try to innovate in their products, as soon as a new payment platform appears which is efficient, quick and cheaper to use than Paypal, then that would be the beginning of their end as company.

That is one of the reasons Paypal wanted to get involved with Facebook's Diem/Libra, they did not want to miss out or get replaced. After the failure of Libra/Diem, they looked at the volume stablecoins have in the crypto market and their adoption in developing markets, and decided that is something they cannot afford to ignore any longer.

[Abiky]

The people at Paypal may be greedy, but they are not stupid.
They are aware that the FED case against Paxos corcerning the circulation of BUSD will likely end up in favor of Paxos. In that case, they may indeed try to jump onto the train of the stablecoin market before it is too late.

Perhaps they realized that there are more people who have moved off pure Fiat wallets towards exchanges to keep their money there, and in order not to lose more clients/users, Paypal probably tries to connect their service with exchanges so people can move those tokens from Binance/Coinbase towards paypal easier, using a deposit wallet and turning those tokens to Paypal USD.

On the other hand, if Paxos loses the lawsuit then it would be a strong precendent for the United States government tk shut down all projects related to stablecoins in their territory, leaving an open path for the future CBD they will likely launch soon.

All eyes are on US regulators' stance towards the stablecoin industry. They can either approve the new trend, or outright reject it. If they approve it, they will regulate it "down to the bone". I wouldn't be surprised if Paxos sues the SEC due to "unfair regulations". A win would mean PYUSD and BUSD will continue their operations normally. Otherwise, you can say goodbye to stablecoins for good.

PayPal's new stablecoin aims to compete with already-established players in the industry. I'm yet to see whenever it will have large demand and liquidity/trading volume in the long run. Who knows? Maybe it'll become the second-largest stablecoin after Tether? Just my opinion

[Hispo]

The people at Paypal may be greedy, but they are not stupid.
They are aware that the FED case against Paxos corcerning the circulation of BUSD will likely end up in favor of Paxos. In that case, they may indeed try to jump onto the train of the stablecoin market before it is too late.

Perhaps they realized that there are more people who have moved off pure Fiat wallets towards exchanges to keep their money there, and in order not to lose more clients/users, Paypal probably tries to connect their service with exchanges so people can move those tokens from Binance/Coinbase towards paypal easier, using a deposit wallet and turning those tokens to Paypal USD.

On the other hand, if Paxos loses the lawsuit then it would be a strong precendent for the United States government tk shut down all projects related to stablecoins in their territory, leaving an open path for the future CBD they will likely launch soon.

All eyes are on US regulators' stance towards the stablecoin industry. They can either approve the new trend, or outright reject it. If they approve it, they will regulate it "down to the bone". I wouldn't be surprised if Paxos sues the SEC due to "unfair regulations". A win would mean PYUSD and BUSD will continue their operations normally. Otherwise, you can say goodbye to stablecoins for good.

PayPal's new stablecoin aims to compete with already-established players in the industry. I'm yet to see whenever it will have large demand and liquidity/trading volume in the long run. Who knows? Maybe it'll become the second-largest stablecoin after Tether? Just my opinion

Paypal is counting on their existing clients to favor the liquidity of this incoming project of stablecoin, I am sure.
Their plan is for people who is into crypto to give a new chance to their abandoned Paypal accounts and also they could be aiming to people with Paypal accounts to be able to receive tokens from people who are Binance users but are not Paypal users.

If they did not already have a relatively solid ecosystem this would be an idea which did not have anything original or new, in comparison to existing stablecoins in the market, the only appealing feature is the bridge this could make between crypto and Fiat.

Also, Paxos could appeal to the Supreme court if everything goes down the toilet, but considering those in the Supreme court are mostly unaware of crypto and are conservative, then there would be not much hope for stablecoins, if this lawsuit was going to be treated as precedent.

[JeffBrad12]

They named it Paypal USD to make people think that the stable coin has something to do with Paypal. I did not find a single article saying that Paypal has developed their stable coin and what this project is doing is purely what USDC or Tether have done. I don't think it's good to collect a lot of stable coins and only focus on USDT. That is my personal opinion hehe.

well they definitely need to utilize their big name which is paypal.
I personally think there's nothing wrong with it, after all the stablecoin itself was released by paypal and we don't really know how the development process on the paypal side is going.
moreover the fact that paypal themselves announced it, it seems they really eager to succeeds in this field and trying to get that piece of fee from the massive stablecoin markets.
after all, the stablecoin market itself has shown to be having multi billion dollars market capitalization and its always growing ever since, you can judge that they are finally make good decision business wise.

[Abiky]

Paypal is counting on their existing clients to favor the liquidity of this incoming project of stablecoin, I am sure. Their plan is for people who is into crypto to give a new chance to their abandoned Paypal accounts and also they could be aiming to people with Paypal accounts to be able to receive tokens from people who are Binance users but are not Paypal users. If they did not already have a relatively solid ecosystem this would be an idea which did not have anything original or new, in comparison to existing stablecoins in the market, the only appealing feature is the bridge this could make between crypto and Fiat. Also, Paxos could appeal to the Supreme court if everything goes down the toilet, but considering those in the Supreme court are mostly unaware of crypto and are conservative, then there would be not much hope for stablecoins, if this lawsuit was going to be treated as precedent.

I'm sure this new offering will attract more customers into PayPal. After all, most people want to hop into the crypto/Blockchain tech. I believe PYUSD will be off to a good start because of the company's strong presence in the FinTech space. It's a "household name", unlike USD Coin's Circle or Tether's Bitfinex. If all goes well with the regulators, PYUSD might become the standard of international payments. It's likely you'll be able to deposit/withdraw USD using your PYUSD at ATMs worldwide.

I know PayPal's new stablecoin is going to have to compete with The FED's upcoming CBDC (aka Digital Dollar) in the long run. But it won't come down easily, especially if the Digital Dollar can't be used on public blockchain networks for "De-Fi". Who knows if Paxos decides to ditch Binance USD and carry on with PayPal USD to help minimize regulatory pressure? Just my opinion

[nelson4lov]

~Snipped

I'm sure this new offering will attract more customers into PayPal. After all, most people want to hop into the crypto/Blockchain tech. I believe PYUSD will be off to a good start because of the company's strong presence in the FinTech space. It's a "household name", unlike USD Coin's Circle or Tether's Bitfinex. If all goes well with the regulators, PYUSD might become the standard of international payments. It's likely you'll be able to deposit/withdraw USD using your PYUSD at ATMs worldwide.

I know PayPal's new stablecoin is going to have to compete with The FED's upcoming CBDC (aka Digital Dollar) in the long run. But it won't come down easily, especially if the Digital Dollar can't be used on public blockchain networks for "De-Fi". Who knows if Paxos decides to ditch Binance USD and carry on with PayPal USD to help minimize regulatory pressure? Just my opinion

Given the number of debacle we have had in the crypto space in the recent year, I won't be too surprised if PayPal USD gains more traction and surpasses the marketcap of existing stablecoins like USDC, DAI or the ever-dominant USDT. Institutional trust were lost after the 3-arrow capital and FTX saga. PayPal USD can use it as a narrative to strive and even Major exchanges lists it, even better. In the long run, I don't think it would make much difference. At least 90% of stablecoins are centralized, exogenous stablecoins.

Paxos might opt for PayPal, there's no disputing that. For a company under heavy security scrutiny, anything goes even if its an overly centralized alternative.

[Hispo]

~Snipped

I'm sure this new offering will attract more customers into PayPal. After all, most people want to hop into the crypto/Blockchain tech. I believe PYUSD will be off to a good start because of the company's strong presence in the FinTech space. It's a "household name", unlike USD Coin's Circle or Tether's Bitfinex. If all goes well with the regulators, PYUSD might become the standard of international payments. It's likely you'll be able to deposit/withdraw USD using your PYUSD at ATMs worldwide.

I know PayPal's new stablecoin is going to have to compete with The FED's upcoming CBDC (aka Digital Dollar) in the long run. But it won't come down easily, especially if the Digital Dollar can't be used on public blockchain networks for "De-Fi". Who knows if Paxos decides to ditch Binance USD and carry on with PayPal USD to help minimize regulatory pressure? Just my opinion

Given the number of debacle we have had in the crypto space in the recent year, I won't be too surprised if PayPal USD gains more traction and surpasses the marketcap of existing stablecoins like USDC, DAI or the ever-dominant USDT. Institutional trust were lost after the 3-arrow capital and FTX saga. PayPal USD can use it as a narrative to strive and even Major exchanges lists it, even better. In the long run, I don't think it would make much difference. At least 90% of stablecoins are centralized, exogenous stablecoins.

Paxos might opt for PayPal, there's no disputing that. For a company under heavy security scrutiny, anything goes even if its an overly centralized alternative.

The listing of PayPal's token would happen for sure, actually a bridge between Binance and PayPal (deposit and withdrawvals between them) would benefit Paypal, because I am certain they will continue to charge for fees, more volume more fees collected.

However, Binance my be reluctant to list Paypal USD in the case they give priority to their own stablecoin. They have already delisted other stablecoins like USDC quite recently, if Paxos losses the case (perish the thought) then Binance will be forced to issue a non-USA based product to replace BUSD, if everything goes well, Paxos will be allowed once more to mint BUSD and Binance will welcome it's token once more.

[Abiky]

Given the number of debacle we have had in the crypto space in the recent year, I won't be too surprised if PayPal USD gains more traction and surpasses the marketcap of existing stablecoins like USDC, DAI or the ever-dominant USDT. Institutional trust were lost after the 3-arrow capital and FTX saga. PayPal USD can use it as a narrative to strive and even Major exchanges lists it, even better. In the long run, I don't think it would make much difference. At least 90% of stablecoins are centralized, exogenous stablecoins.

Paxos might opt for PayPal, there's no disputing that. For a company under heavy security scrutiny, anything goes even if its an overly centralized alternative.

Centralized stablecoins moves us back into the era of banking (something crypto was meant to avoid in the first place). There's nothing we can do about it if we want "Wall Street" to join the game. Without renowned companies like PayPal, MicroStrategy, and Blackrock, market prices will remain low or relatively stagnant. It's these players who "pump" the market all the way to the moon. Imagine what impact PYUSD will have on the market after it becomes a big hit. It's likely the crypto market will be valued at more than $1T after this. Maybe within the $5T-$10T range.

We're going to have to see if Paxos and the US government reach an agreement for PYUSD to grow without limitations. Who knows if maybe "The FED" goes as far as adopting a stablecoin instead of a CBDC to replace the USD? Just my thoughts

[nelson4lov]

~Snipped

Centralized stablecoins moves us back into the era of banking (something crypto was meant to avoid in the first place). There's nothing we can do about it if we want "Wall Street" to join the game. Without renowned companies like PayPal, MicroStrategy, and Blackrock, market prices will remain low or relatively stagnant. It's these players who "pump" the market all the way to the moon. Imagine what impact PYUSD will have on the market after it becomes a big hit. It's likely the crypto market will be valued at more than $1T after this. Maybe within the $5T-$10T range.

Thinking about this, PYUSD might actually become the first legally accepted stablecoin (I don't see why not, given its standing in the finance industry  for over a decade). Also, the biggest reasons I've seen that has made stablecoins become really popular and dominant despite majority of them being centralized is that, DeFi as it currently is lacks the much needed to make it strives that's why stablecoins are important right now. Once we can get that problem solved, I don't see much importance for them.

We're going to have to see if Paxos and the US government reach an agreement for PYUSD to grow without limitations. Who knows if maybe "The FED" goes as far as adopting a stablecoin instead of a CBDC to replace the USD? Just my thoughts

As long as Government have a pull over PYUSD or can control it, I don't see why not. The reason why CBDCs became a thing was because they need a digital currency that puts control and power back in the hands of the government.

[AmoreJaz]

They named it Paypal USD to make people think that the stable coin has something to do with Paypal. I did not find a single article saying that Paypal has developed their stable coin and what this project is doing is purely what USDC or Tether have done. I don't think it's good to collect a lot of stable coins and only focus on USDT. That is my personal opinion hehe.

well they definitely need to utilize their big name which is paypal.
I personally think there's nothing wrong with it, after all the stablecoin itself was released by paypal and we don't really know how the development process on the paypal side is going.
moreover the fact that paypal themselves announced it, it seems they really eager to succeeds in this field and trying to get that piece of fee from the massive stablecoin markets.
after all, the stablecoin market itself has shown to be having multi billion dollars market capitalization and its always growing ever since, you can judge that they are finally make good decision business wise.

if you are a paypal user, maybe, you can see the significance of it. otherwise, it is just another stablecoin in the market. for me, stablecoin is not worth holding long term. even the usdt has the issue of being not totally backed by assets. so if you are planning to hold long-term better weigh your choices. but if it is just for transfer and payment purposes, you can do so.

[poodle63]

there's definitely nothing wrong with paypal releasing their own stablecoin, the billions market capitalization is just too interesting for them to simply ignore it after all they exactly a company that focused in the same field.
but i'd imagine with their presence maybe they could bring the stablecoin use case into a whole new level. like basically they could be adopting it into their system and integrating it like someone using their paypal accounts directly.
its gonna be very interesting.
the fact that there gonna be more and more stablecoin I guess could also at least helps us to diversify our stablecoins holding at least we are not gonna be losing all our money when some of them collapse, i guess paypal's stablecoin will also have low chance of collapsing since the reserve might be more transparent.

[sokani]

They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos. Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet.

I think with digital assets on the rise, PayPal does not want to be left behind and it wants to tap into the rich blockchain technology. PayPal's PYUSD launch is going to provide its large userbase with another means to use its services and will as well help to onboard them to the crypto space. So it's a plus to the crypto community.

[serjent05]

They launched their own stablecoin which is called PYUSD as indicated in the title and it's issued by Paxos.

It's supposed to maintain a $1USD value and backed up by the following:
- Dollar deposits
- US treasuries
- Cash equivalents.

Thoughts on this? I'm not a Paypal user so I don't see the benefits of using this over USD yet. Are conversion rates supposed to be higher or trade fees become lower for PYUSD pairs?

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd

I think this new stablecoin is nothing but pure hype. It doesn't bring anything new to the table. PYUSD is just like Tether and USD Coin but with PayPal's branding. Those who have an account on PayPal will be able to access PYUSD directly for goods and/or services. The company is just trying to get into the crypto/Blockchain train. Binance USD is also issued by Paxos (the same issuer of PYUSD), and it's been facing issues with the regulators recently.

I do not know who among the crypto users is being hyped by this news.  We already have USDT, BUSD, and USDC.  There is no need for another stablecoin pegged to USD, this is created for profit and while giving them control over the PYUSD of any accounts holding it.

Don't expect PayPal to be treated any better, especially when "The FED" doesn't want to lose control/dominance over the USD. If Facebook's planned stablecoin turned into a failure, I would expect the same to happen with PYUSD in the long run. Things could turn into another direction if the US eases off its crypto regulations. No one can predict the future, so we can only hope for the best. Just my thoughts

It is possible because as a stablecoin user, I would rather stay on what stablecoin I am using than using a newly released stablecoin where its creator can also freeze and blacklist any account holding it.  This simply means the PYUSD does not bring any innovation to the table.

[Abiky]

Thinking about this, PYUSD might actually become the first legally accepted stablecoin (I don't see why not, given its standing in the finance industry  for over a decade). Also, the biggest reasons I've seen that has made stablecoins become really popular and dominant despite majority of them being centralized is that, DeFi as it currently is lacks the much needed to make it strives that's why stablecoins are important right now. Once we can get that problem solved, I don't see much importance for them.

Exactly. PayPal has widespread recognition as one of the leading companies (if not the leading company) in the financial sector. People will trust PYUSD more than Tether or USD Coin for that matter. It's likely PYUSD's market cap will increase to a point where it will overtake USDT as the leading stablecoin in the market. For what I know, all cards are on the table. Even though all of these stablecoins are centralized, they're still a great way to protect yourself against market volatility.

You'd save money and time by converting your crypto into a stablecoin of your choice instead of cashing out to USD. Who knows if PayPal even goes as far as launching its own crypto exchange in the future? Just my thoughts

[Yogee]

PYUSD has already been listed on some major exchanges such as Coinbase and Kraken in case you're interested. The current circulating supply according to CMC is at 44,376,440 - https://coinmarketcap.com/currencies/paypal-usd/

It probably won't be long before other exchanges will list it. Expect the supply to also increase so entering the top 10 is only a matter of time.