William Quigley, a Tether co-founder, believes privately issued stablecoins offer societal benefits. He expressed skepticism about PayPal’s PYUSD token bringing significant innovation, seeing it as a cost-saving measure for PayPal. While Tether dominates the stablecoin market, PayPal’s vast user base could disrupt the sector. Quigley noted PayPal’s potential to reduce costs by using its private multicurrency money supply and eliminating third-party intermediaries in cross-border transactions.
Tether Co-Founder Sizes Up PayPal’s Stablecoin Ambitions
