This Is Paypal’s “Adapt or Die” Moment
TL;DR
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The crypto house is rapidly turning into quicker, cheaper, and simpler to entry (globally) than PayPal’s present closed ecosystem, in order that they’re adopting it earlier than it kills them.
Full Story
In in the present day’s “In case you can’t beat ‘em, be part of ‘em” information:
PayPal simply launched their PYUSD stablecoin on Solana (after launching on Ethereum final August).
“Okay, identical 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:
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They don’t personal the underlying ecosystem (as a substitute, Ethereum and Solana are consumer owned).
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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 turning into quicker, cheaper, and simpler to entry (globally) than their present closed ecosystem.
So PayPal must adapt or die.
Proper. However how do they earn cash?
In the event that they’re something like different stablecoins, they’ll take a small portion of their stablecoin’s complete money stability, and put it in brief time period, easy-to-get-out-of investments to be able to eek out a revenue.
Boring topic, thrilling implications!
