EXCLUSIVE: Tether's Ardoino Brushes Off PayPal's Reserves-Heavy Stablecoin, Says It Will Impact US-Centric Competitors
Portfolio Pulse from Murtuza Merchant
PayPal has announced its new U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), which is fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents. Paolo Ardoino, CTO of Tether, does not see PYUSD as a competitor to Tether, but believes it will lead to a further loss of revenue for competitors like USD Coin. Ardoino also suggested that PYUSD could erode revenues for payment companies like MasterCard and Visa.
August 07, 2023 | 5:36 pm
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POSITIVE IMPACT
PayPal has launched a new stablecoin, PYUSD, which could potentially impact its revenues and market position.
The launch of PYUSD could potentially increase PayPal's revenues and market share in the stablecoin market. However, the impact will depend on the adoption rate of PYUSD among PayPal's users.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The launch of PayPal's stablecoin, PYUSD, could potentially erode revenues for MasterCard.
The launch of PYUSD could potentially erode revenues for MasterCard, as it could lead to a decrease in the volume of transactions processed by MasterCard.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The launch of PayPal's stablecoin, PYUSD, could potentially erode revenues for Visa.
The launch of PYUSD could potentially erode revenues for Visa, as it could lead to a decrease in the volume of transactions processed by Visa.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70