Tether CTO states that PayPal's stablecoin project did not affect Tether's performance and emphasizes that the stablecoin called PYUSD is focused on an area where Tether does not provide services. However, it is noted that the other stablecoin in the U.S., USDC, could compete with PYUSD's market launch. In the long term, it is believed that PYUSD will compete with USDC in DeFi and crypto platforms.
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