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Vice President of PayPal: PYUSD Is Planned To Be Adopted on CEX, and There Is No International Expansion Plan

On August 14th, Jose Fernandez da Ponte, Senior Vice President of PayPal Blockchain, Cryptocurrency, and Digital Currencies, stated that although PayPal's stablecoin PYUSD, which is currently launched on Ethereum, can only be obtained through the PayPal wallet, their goal is to make PYUSD also available on major trading platforms. PayPal believes that stablecoins are the killer application of the current blockchain, especially in remittances, B2B payments, and digital goods. PayPal's vision is to become the channel between fiat currency and Web3, enabling stablecoin payment systems to become mainstream.

As for international expansion, PayPal plans to start from the United States and then consider other markets. However, PayPal currently has no plans to link stablecoin with fiat currencies other than the US dollar. In addition, PayPal plans to attract different user groups, including the video game industry, by providing innovative payment use cases such as streaming payments and purchasing digital goods in a gaming environment.

Ethereum Ethereum $3,116.35
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