PayPal aiming for DeFi push after stablecoin launch – SVP Blockchain, crypto | Headlines | News | CoinMarketCap
08/14/2023 10:08
PayPal intends to continue its push into the crypto industry by integrating its newly launched stablecoin PYUSD with the decentralized finance (DeFi) …
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Published on August 14, 2023 03:00 GMT+00:00edited on August 14, 2023 03:04 GMT+00:00
PayPal intends to continue its push into the crypto industry by integrating its newly launched stablecoin PYUSD with the decentralized finance (DeFi) ecosystem.
PayPal’s senior vice president of blockchain, crypto, and digital currencies, Jose Fernandez da Ponte, said during an appearance on the Unchained Podcast that the firm wants its stablecoin to be useable for every use case in the crypto industry.
He added that stablecoins’ current use case in DeFi and Paypal wants to ensure its token is a viable alternative to rivals like USDT and USDC.
Da Ponte said:
“I think DeFi will be part of the first wave in the sense that we want to go where crypto users are using stablecoins today, and DeFi is a use case for that.”
PYUSD is currently only available through the PayPal wallet and has …