That restriction will doubtless carry in time, and PayPal might finally onboard extra individuals into crypto than Coinbase (108 million ultimately depend). And even when solely a fraction of these clients ever work together with Web3 past PayPal this doesn’t must cheapen crypto’s purity (which frankly has already been tainted). It’s not just like the existence of PYUSD means bitcoin or ether or dai will disappear. And as Austin Campbell, who previously managed the BUSD stablecoin reserves at Paxos, wrote: “A participant like PayPal getting into the sector is materials, for credibility, for entry, for public schooling and to power everybody else to start out grappling with the fact of blockchains and the forms of industrial purposes they permit.”
