 | PayPal just launched its own stablecoin. 70% of eBay purchases go through PayPal, which is something you should know. What does this mean for the crypto world? Read their official news release if you didn't hear the news. But the first report of the change came out on January 8, 2022, so why is this such a big deal? Well, they've said out in the open that they'll work closely with officials to make sure it's legal. Over the past few decades, PayPal has grown at an exponential rate. It now has 426 million registered accounts and does 19 billion transactions worth $1.2 trillion each year. But growth has slowed down. Could this be because people are using cryptocurrencies all over the world? They needed something to get them going again. Stablecoins might be able to stop the drop. Keeping track of payments costs money. In a recent quarter, PayPal spent $2.7 billion on costs linked to transactions. Juniper Research says that payment theft will cost more than $343 billion over the next five years. PWC says that 43% of scams come from the outside. Stablecoins could make it harder to make fake money. Cutting costs and growing are both good, but I'm most excited about a huge online marketplace. eBay bought PayPal and revamped it. Its main way to accept payments is through PayPal. Ebay has 134 million users, 1.7 billion ads, and $74 billion in sales. Don't you think people in the real world will see crypto again? Only eBay could use PayPal Stablecoins to move $51.8 billion (or 70% of $74 billion). The stablecoin will be seen by more shop users because more stores that accept PayPal will use it. There might be a way to get small investors interested in blockchain-related technologies. Digital assets like NFTs might be able to be sold on well-known traditional online marketplaces like eBay. [link] [comments] |
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