TL;DR
The crypto house is rapidly changing into sooner, cheaper, and simpler to entry (globally) than PayPal’s current closed ecosystem, so that they’re adopting it earlier than it kills them.
Full Story
In right now’s “In case you can’t beat ‘em, be a part of ‘em” information:
PayPal simply launched their PYUSD stablecoin on Solana (after launching on Ethereum final August).
“Okay, similar stablecoin, new chain. Who cares?”
Honest level.
What’s thrilling us about that is the writing it places on the proverbial wall.
PayPal is a closed funds ecosystem, that earns its cash by taking charges from the commerce of fiat currencies — and now they’re partially transitioning to crypto — a spot the place:
They don’t personal the underlying ecosystem (as an alternative, Ethereum and Solana are person owned).
They don’t gather any charges on PYUSD trades made outdoors of the PayPal app.
…so why would they provide that up?
The crypto house is a rising ecosystem that’s rapidly changing into sooner, cheaper, and simpler to entry (globally) than their current closed ecosystem.
So PayPal must adapt or die.
Proper. However how do they generate income?
In the event that they’re something like different stablecoins, they’ll take a small portion of their stablecoin’s whole money stability, and put it briefly time period, easy-to-get-out-of investments so as to eek out a revenue.
Boring topic, thrilling implications!
