PayPal Considers Launching it's Own Stablecoin
More and more companies are looking for creative ways to tap into Web3. Paypal, for example, is considering launching its own native stablecoin. That in itself is very interesting as there has always been a lot of FUD surrounding stablecoins especially when it comes to Tether.
Is that a signal that regulation will be much lighter than we think?
It appears so as Jerome Powell just recently said that a central bank digital currency could coexist with privately issued stablecoins!
This is after SEC chairman and central bank Cats Paw Gary Gensler called stablecoins “poker chips.”
Of course, ol’ Gary Boy is playing FUDball, trying to bring crypto people to the negotiating table with classic government scare tactics. So it’s interesting that Jerome Powell would plant the seed for a much lighter stance on stablecoins.
Why?
Well, JPOW and ol’ Gary Boy probably stay in contact because they’re on the same team. JPOW also seems to have much greater control, power, and influence, considering he has direct access to the world’s biggest money-printing machine!
Prediction: Stablecoins are here to stay, and PayPal won’t be the last company to explore this strategy. I suspect, and I could be wrong, that PayPal is losing the digital payments race against the Squares and Stripes of the world.
They need to do something to get the kid’s attention, and crypto is the quickest way to do that right now.
As more and more big brands clamor to launch a Web3 strategy, eventually, it will become oversaturated, and some will fail.
However, most of these companies and the government are way behind on the digital revolution and need to catch up ASAP!