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So the PayPal stablecoin keeps growing. The PYUSD supply has just surpassed US$ 3.5 billion and is now available in 70 countries. Basically, it went from the UK and US sandbox and then straight out into the world.
What’s most striking is how the number of holders is exploding. There were fewer than 7,000 users two years ago, and now it’s passed 50,000. That’s really accelerated growth. The PayPal stablecoin has an entire base of payment users already ready to use, so it makes sense that it’s gaining traction.
What’s cool is that now tokenization is becoming mainstream, the PayPal stablecoin is in a very unique position. While USDT and USDC dominate, this one is growing at a very aggressive pace. If it keeps up at this rate, it could carve out a significant space in the stablecoin market.
To be honest, when PayPal entered Web3 with this stablecoin, a lot of people were skeptical. But the numbers show the company knew how to leverage its merchant network. Cheaper and faster international remittances using the PayPal stablecoin? That makes a lot of sense. It’s worth keeping an eye on how this will evolve from here.