š±š¼ In a statement reported by Cryptoslate, Jose Fernandez da Ponte, the Vice President and General Manager of PayPal's blockchain division, shared insights about the company's stablecoin strategy. He mentioned, "Stablecoins are primarily used in DeFi. Currently, PayPal's stablecoin PYUSD is targeting centralized exchanges as an initial focus. However, we have plans to expand into the DeFi ecosystem in the future." Additionally, he highlighted that PYUSD, being based on the ERC-20 standard, is versatile and can be integrated into various cryptocurrency ecosystems. Fernandez da Ponte emphasized that PYUSD is poised to emerge as a viable alternative to existing stablecoins like USDC and USDT. This move by PayPal showcases their recognition of the growing importance of stablecoins in the cryptocurrency landscape. š°š #PayPalStablecoin #PYUSD #CryptocurrencyStrategy #StablecoinExpansion