PayPal's Stablecoin will Face Difficulties: Opinion

The issued PayPal stablecoin will be able to improve the efficiency of operations. The quality of service provision will also improve. However, the integration of a stable coin is unlikely to be able to achieve the desired scale. This was reported by Bank of America.

What else did the experts say

Experts believe that investors do not care which stable coins to hold or use if they are considered safe. At the same time, they should be available on the largest cryptocurrency platforms.

At the same time, experts have prepared a report stating that in the future, the stablecoin may face difficulties during integration. This is due to the fact that there is now increased competition between national digital currencies and stable coins that bring profit.

The bank does not think that the sale of the asset will help accelerate clarity in regulation. Moreover, the payment giant will face difficulties if non-banking institutions are banned from issuing stablecoins.

Recall that the PayPal stable coin was launched on Monday. It is linked to the US dollar and is additionally backed by Treasury bonds. The issuer is Paxos, which previously issued the BUSD stablecoin Binance.

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