PayPal CEO Alex Chriss believes stablecoins still face an uphill battle in gaining widespread use in the U.S., despite their promise for cross-border transactions.
In a recent interview, he acknowledged that consumer motivation remains low, prompting the company to experiment with new incentives such as rewards to increase engagement.
Since launching its own stablecoin in 2023, PayPal has observed that most users lean toward using the token for international money transfers—an area where stablecoins can offer a faster and cheaper alternative to traditional remittance channels.
Chriss pointed out that this initial focus on cross-border payments could lay the groundwork for broader adoption, especially as regulatory clarity improves. He cited the recently passed Genius Act in the U.S. Senate as a potential catalyst for accelerating stablecoin usage, revealing that PayPal played a key role in shaping the legislation.
With legislative momentum and infrastructure in place, PayPal appears poised to leverage its early entry into the stablecoin space—but acknowledges that the journey toward mainstream acceptance will be gradual.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/heres-how-paypal-sees-stablecoin-growth-playing-out-in-the-u-s/