Opinion: PayPal stablecoin poses threat to crypto’s principles of decentralization

08/08 20:25

Jane Ma, co-founder of zkLend, said that PayPal will indeed enhance people's awareness and acceptance of cryptocurrency. She believes that PayPal's reputation for transparency and experience in regulatory environments will naturally bring a certain level of credibility to the PYUSD stablecoin. However, as part of a well-known financial organization in the United States, PYUSD will essentially have centralized management functions. Regulatory agencies and institutions considering regulatory stablecoins may reduce the market share of decentralized stablecoins, thereby threatening the decentralization principle that supports the cryptocurrency field.
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