Tether Co-Founder Assesses PayPal’s Plans for Stablecoin Dominance!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 18, 2023 16:06

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.