Tether Co-Founder Assesses PayPal’s Plans for Stablecoin Dominance!
PayPal is reportedly showing interest in launching its own stablecoin, and the move is inspired by potential savings on trillions of dollars worth of multicurrency transactions, according to Tether co-founder William Quigley. He said that when he co-founded Tether, he considered it a “charitable contribution” to the open-source blockchain sector. Tether is one of the most prominent stablecoins, with a market cap of nearly $69 billion. PayPal has already dipped its toes into the crypto sphere by allowing users to buy and sell cryptocurrencies through its platform.