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In the fast-paced world of cryptocurrency, even giants like PayPal can face hurdles when it comes to establishing their presence in the digital asset realm. PayPal’s recent foray into the crypto market with its stablecoin, PayPal USD, has encountered challenges, as revealed by on-chain data.
Blockchain analytics firm Nansen has shed light on the situation, showing that approximately 90% of PayPal USD is currently held in the wallets of the stablecoin’s issuer, Paxos Trust. Crypto exchange wallets account for nearly 7% of the total supply, with notable balances on platforms such as Kraken, Gate.io, and Crypto.com. Surprisingly, the adoption among so-called “smart money” investors, a term referring to well-informed or professional investors, remains negligible.
Despite these initial adoption setbacks for PayPal’s stablecoin, the crypto community has its eyes on the promising futures of other cryptocurrencies, particularly XRP, Toncoin, and Borroe Finance ($R
We współpracy z: https://en.cryptonomist.ch/2023/09/08/nansen-speaks-paypal-coin-hiccups/
