Bitcoin24h $91,415.91+1.39%

Ethereum24h $3,033.22+0.45%

XRP24h $2.21-0.44%

BNB24h $896.56+0.58%

Solana24h $141.94-1.13%

TRON24h $0.2803+1.38%

Dogecoin24h $0.1538-1.20%

Cardano24h $0.4362+0.35%

Hyperliquid24h $35.13-2.75%

Bitcoin Cash24h $535.78-1.54%

PayPal and Ripple stablecoins still sub-1% despite ‘stablecoin gold rush’

Despite excellent political and banking conditions for stablecoins, PayPal’s PYUSD and Ripple’s RLUSD are still less than 1% of the market.

Why is PayPal’s stablecoin PYUSD struggling a month after launch?

Real-world adoption of PayPal’s stablecoin PYUSD has been sluggish with just $45M in reserves reported so far.

PayPal’s stablecoin is neither unique nor special, instead inheriting design decisions from many existing tokens.

Crypto firm Paxos has stopped minting BUSD amid regulatory scrutiny, prompting its partner PayPal to back out of its own stablecoin launch.