I also read the news on CoinMarketCap where it was stated that PayPal will utilize Ethereum network for transaction of PYPAL, however my reservation is on the high cost of gas when transacting with Ethereum network did PayPal consider that before reaching an agreement to utilize that network?  I also read another news where Tron founder was also ready to offer PayPal their own network because of it low cost of transaction link: https://en.bitcoinsistemi.com/justin-sun-suggests-tron-trx-network-to-paypal-for-its-stablecoin-launch/
I think this a welcome development for remote workers who uses PayPal as their payment gateway will now receive their wages in form crypto this will ease the problems of exchanging their earned wages from Paypal to cryptocurrencies.

Centralized tokens to be used in a centralized blockchains. The opposite of crypto evolution.
I am not using paypal since 10 years now. vast majority of transactions are done just with bitcoin. Others are managed with direct card payment (not reversible).
I am not missing their service and their horrible ToS.

Well technically one benefit of it would be that you can change crypto in defi and use pegged currency instead of reaal usd and skip the bank transactions. This is a clear middle finger to bank transactions...
They say it's ERC-20 in eth network. So what i am wondering is if they are going to use layer to like arbitrum or polygon for moving it? I would personally love this idea. Because there's no crypto payment options for paypal in where i live, so i would definitely have use for this.

Not sure though since Paypal has some bad feedback but since some of ym friends ar eworking and got paid in paypal they said that this wipl be beneficial to them as they can use directly for crypto trading and other platforms but actually prefer the hassle free of some like Binance and other platform that can cater my needs too.

I don't know if it's just me who have this feeling, but I guess we have a time in the past where people are speculating about Paypal entering into cryptocurrency that made the price of Bitcoin spike up just because of that rumor? Correct me if I'm wrong with this one, but if this turns out to be true... then nobody cares already unlike what it was a few years ago.

Overall, nothing very surprising TBH. I'm not using Paypal anyway, and will not use it at all. Well, those Paypal users that are using crypto are the ones who will benefit the most in this one I guess especially those freelancers who wants to get paid into crypto, but it just released a few days so let's see if this will gain traction, or it will be beneficial to both the crypto users, and the Paypal users.

Also I saw this topic coming from a users, and it says that there is a code in the system where they can just freeze your assets: https://bt.irlbtc.com/view/5462423.0
I'm not a programmer, but if this true then this is an early red flag already.

As much as I don’t like PayPal, I think this stablecoin of theirs will be successful. Why? Because besides USDC what other alternatives are there that people trust?

There is always tether fud. The Luna was a scam. BUSD is getting shutdown. And TUSD is very sketchy. So many will opt for PayPal’s stablecoin because they trust them more than the alternatives.

I think Paypal did not allow people to send BTC to external wallets because it would be more of a hassle to them to have such mechanisms and also compete against other more established exchanges. All they want is to hold Bitcoin and allow people to speculate on it, without leaving their own pockets. Also, it keeps Paypal in good terms with regulators.

The BUSD case and the fact it has not decreased in value has more to do with the strong backing Paxos has, rather than how good or bad the lawsuit is going for that company.

The fact Paypal decided to go together with Paxos, makes me assume Paypal does not think his token would ever be tagged as an unregistered security

I am using them once in a while and having that own stable coin of theirs could also be the next one in demand like the Tether and exchanges stable coins such as USDC and BUSD.

Well, IMO, they're just going with the flow and they're actually hit with the trend of crypto if they're not going to do any significant action and adoption with what's happening.

So the prophesy of many people from the community have probably said it before to companies like them in a quote, "If you can't beat them, join them".

This is just a general warning in case anyone is interested in this project, beware that there are many scammer and imposters trying to scam while riding this hype. There are some fake tokens and also people scamming using fake information relating to this project.

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Money-making scheme potency knows no irony. If the market is lucrative there always be someone trying to profit it off. The market has a standstill and shows an opportunity for a company to make a profit. Now many entities trying to seize it.

Bear in mind that Michael Sayloy once bash Bitcoin before his company excessively invested in it. It also happens with BlackRock, they once got scepticism, but now they trying to get the BTC ETF fillings. Those examples only contain Bitcoin, but generally, there will always be a way to profit off from the whole cryptocurrencies markets. So I'm not surprised in the future, when the market became more mature, there will be someone who changes their opinion and stance toward this space.