🚀 PayPal to issue US dollar stablecoin on Ethereum network: What's the real motive?

PayPal's recent announcement of issuing a US dollar stablecoin, PYUSD, on the Ethereum network has the crypto world buzzing. However, some suspect that the main reason behind this move is not technology but rather PayPal's desire to collect interest on your dollars.

- PYUSD will be backed by dollar bank deposits and highly liquid dollar equivalents, held in a trust managed by Paxos.

- Short-dated U.S. Treasuries, likely to make up the bulk of PYUSD's backing, are offering a 5% yield, which PayPal gets to keep.

- This could encourage users to hold more money in the form of PYUSD and for longer periods, generating more interest for PayPal.

What are your thoughts on PayPal's stablecoin move? Share your opinions in the comments below! 👇