While the PayPal (NASDAQ:PYPL) USD stablecoin has the potential to compete with other established stablecoins, it will need to overcome some hurdles.
The unveiling of the PayPal USD stablecoin marks the entry of a major regulated financial entity into the crypto space, which could give the cryptocurrency industry the much-needed legitimacy it has been seeking. As such, PYUSD stablecoin is expected to find favor among crypto enthusiasts as looming regulations roil the crypto market and cause uncertainty.