Will PayPal's PYUSD Steal Market Share From Tether and Circle? - Ep. 530

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 11 August 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A major player has entered the stablecoin wars. PayPal went deeper down the crypto rabbithole this week with the launch of its Ethereum-based PYUSD. The dollar-backed stablecoin now puts PayPal in competition with the likes of Tether and Circle for quickly sending value around the world on-chain. José Fernández da Ponte, PayPal’s crypto SVP, joins the show to unpack how the fintech giant is building a long-term strategy around blockchain-based payments. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why PayPal decided to launch a stablecoin how long it will take for stablecoins to reach mainstream adoption and what the advantages of stablecoins are how PYUSD will differentiate from other giants in the stablecoin space such as USDT and USDC whether the U.S. stablecoin bill influenced the launch of PYUSD why stablecoins should be regulated at the state level whether PayPal plans to launch stablecoins pegged to other fiat currencies how Paxos will provide attestation reports for PYUSD why Jose thinks gaming is a huge opportunity for stablecoin payments what the rationale was for launching an ERC-20 on Ethereum how PayPal plans to monetize the stablecoin why PayPal’s expectations for PYUSD in the short-term are “moderate” Thank you to our sponsors! Crypto.com Arbitrum Foundation Thales DAO Guest José Fernández da Ponte, SVP of Blockchain, Crypto and Digital Currencies at PayPal Links Unchained: PayPal Launches PYUSD Stablecoin Built on Ethereum CoinDesk: PayPal’s Real Stablecoin Strategy: It Wants to Earn Interest on Your Deposits Congresswoman Maxine Waters Says She’s ‘Deeply Concerned’ About PayPal’s New Stablecoin U.S. Stablecoin Bill Takes Big Step Despite Fight From Democrats, White House Paxos Has Other 'White Label' Stablecoin Opportunities in the Works in Addition to PayPal USD Blockworks: PayPal’s new stablecoin stirs centralization criticism CNBC: PayPal is trying to drag its 435 million users into the $120 billion stablecoin market — here's why Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We will definitely expand, but Ethereum was the clearly first choice to deploy.
0:08.9	Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto.
0:12.9	I'm your host, Laura Shin, author of The Cryptopians.
0:16.7	I started having crypto eight years ago, and as the senior editor of Forbes was the first
0:21.1	mainstream media porter to cover cryptocurrency full-time. This is the August 11th, 2023 episode
0:26.8	of Unchained. Arbitram's leading layer-to-scaling solution offers you ultra-cheap and
0:32.4	lightning fast transactions, all with security rooted on Ethereum. Visit Arbitram.io today.
0:39.4	Today's episode is brought to you by OverTime Markets, your premier Web3 sportsbook.
0:44.3	The innovative protocol is changing the game one match at a time, powered by fails,
0:49.2	explore more at overtimemarkets.xyz. With the crypto.com app, you can buy, trade,
0:55.3	and spend crypto in one place. Download and get $25 with the code Laura. Link in the description.
1:03.4	This episode is brought to you by TNT Sports. Nothing brings people together like sport.
1:08.6	It's unmatched. TNT Sports is here to provide more unforgettable moments. There's
1:13.1	exclusive UEFA Champions League and Premier League football, along with the best rugby, boxing,
1:18.0	UFC, WWE, MotoGP, and more. This isn't just sport, this is everything.
1:23.6	Stream TNT Sports on Discovery Plus or watch TNT Sports channels on BT, Sky, and Virgin Media.
1:29.6	Subscription required, H18 Plus TNC's apply. There was once a family on a road trip,
1:34.0	to keep everyone entertained that created a fun, personalized audio story using AI,
1:38.6	starring themselves about their trip. So by the time they arrived, they'd already had quite an
1:43.0	adventure. Make your free personalized audio journey in the McDonald's app, fancier McDonald's.
1:48.4	H18 Plus TNT stories made using AI, terms of views and privacy policy apply.
1:53.3	Today's guest is Jose Fernandez de Ponte, senior vice president and general manager of
	...

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