EXCLUSIVE: JPMorgan says PayPal stablecoin could boost Ethereum activity
"This could boost Ethereum activity and enhance Ethereum's network utility as a stablecoin/DeFi platform," JPMorgan analysttold The Block."In other words, more firms would be encouraged in the future to choose the Ethereum blockchain for their stablecoin or decentralized projects."
stablecoin, which was forced to shut down by U.S. regulators earlier this year, Panigirtzoglou said. If PYUSD fills that void,"DeFi TVL would shift from Binance Smart Chain to the Ethereum blockchain ," he added.PayPal for choosing Ethereum for its stablecoin, given the blockchain's high transaction fees.
Panigirtzoglou and fellow JPMorgan analyst Mayur Yeole said that PayPal getting into the stablecoin business will boost synergies in payment networks across both traditional and decentralized finance.
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