Chriss noted that, despite the appearance of PyUSD stablecoin launched by PayPal’s payment company in 2023, it is still difficult for users to use this type of cryptocurrency for daily purchases. They are used to using credit cards, banking transfers and mobile applications. People do not understand how stablecoins can improve their lives, Curses complained.
PayPal CEO is confident that stablecoins are very practical during international money transfers and calculations. You do not need to pay high commissions for transactions, and the sending of funds is carried out quickly, transparently and without delay, while for conventional banking transfers it may take several days. Stebblecoins can become a “payment gateway” for users living in regions without access to banking services, Chriss noted.
“Now most people prefer to use stablecoins for international transfers, and not for daily payments. When people transfer money abroad and pay large commissions, they are looking for a safe and inexpensive way to use currency, ”said PayPal CEO.
According to Chriss, the Genius bill regulating the issuance and appeal of stablecoins, could soften restrictions on digital assets and make them more accessible to people. Recently, this bill was adopted by the Senate, and now it should be approved by the House of Representatives of the US Congress.
In April, the US Securities and Exchange Commission (SEC) stopped investigation against Pyusd Stablecoin, promising not to take compulsory measures against PayPal. Earlier, the department demanded that the company provide Pyusd token documents.
Source: Bits
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