PayPal is venturing into the world of stablecoins with an Ethereum-based coin aiming to enhance internet-based payments.

Despite industry challenges, PayPal sees the potential in stablecoins for their cost efficiency, programmability, and speed.

PayPal acknowledges the uncertain regulatory environment for stablecoins and emphasizes the importance of a strong regulatory structure, transparency, and compliance.

The long-term goal of PayPal is to mainstream cryptocurrency technology, expecting a 10X growth in the stablecoin asset size within the next five years.

PayPal's choice of Ethereum is influenced by its existing use by other stablecoins and regulatory support.

The company remains committed to public blockchain infrastructure and open-source protocols.

PayPal's entry into the stablecoin market could potentially revolutionize the payments industry and improve financial access in regions with limited infrastructure.