Bank of America: PYUSD unlikely to see widespread adoption anytime soon
2023/08/11 11:35
Bank of America (BAC) stated in a research report that the launch of PayPal's stablecoin PYUSD will improve payment efficiency and enhance customer experience, but the adoption of cryptocurrencies is unlikely to have a significant impact in the short term.
The analyst wrote: "When interest rates are close to zero, investors may hold stablecoins that do not generate income, such as Tether (USDT) and USD Coin (USDC), but as short-term interest rates exceed 5%, stablecoins that generate income may become more and more attractive."
The report also added that PYUSD may target a different market that has essentially not yet been developed, "asset transfer, payment, and remittance supported by blockchain technology."
BullishBearishLikeShare
Disclaimer:The content above does not represent HTX's positions.,HTX does not provide any trading recommendations.。
All Comments0LatestHot
No records