This is great for the mainstream adoption of crypto, as mum and dad will likely be far more accepting to a digital dollar with a PayPal logo on it, rather than USDT or USDC, which are created from entities they have never heard about.
PayPal also has 430 million active accounts and the token is being built on Ethereum meaning this news likely fuels ETH’s blockchain to further becoming the ‘money layer’ of the internet.
HOWEVER
PayPal is a company which has a history of limiting and restricting accounts and it has now been revealed in the stablecoin’s source code, which I have posted below, that the company will have the ability to freeze and wipe your assets if they decide to do so.
So it is a double edged sword, yes crypto is getting ever closer to the mainstream adoption many have long awaited for, but with entities like PayPal gaining more control over our assets and providing us, the user, with less privacy than ever before I think this adoption comes at a cost. Show Less
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