Odaily News: Jose Fernandez da Ponte, Senior Vice President and General Manager of Blockchain, Cryptocurrency, and Digital Currency at PayPal, revealed in an interview that PayPal plans to integrate its newly launched stablecoin PYUSD with the DeFi ecosystem to further expand its presence in the crypto industry.



He stated that the company aims to make its stablecoin available for all use cases in the crypto industry. He added that stablecoins are currently being used in DeFi, and PayPal hopes that its token can be a viable alternative to competitors such as USDT and USDC.



Currently, PYUSD can only be used through the PayPal wallet and has not yet been listed on centralized exchanges. Da Ponte mentioned that the company's current focus is to ensure that its stablecoin can be listed on CEXs as soon as possible.



He further noted that once this hurdle is cleared, PYUSD can be used for almost any purpose within the ecosystem as it is fully compatible with Ethereum.



Da Ponte also emphasized that the stablecoin fully complies with US regulatory standards and is poised to capture a significant market share in the country. As for international expansion, PayPal plans to start from the US before considering other markets. However, there are currently no plans to peg the stablecoin to any fiat currency other than the US dollar. (CryptoSlate)