Can Paypal’s PYUSD Be a Threat to the Ethereum Ecosystem

Adekunle Joshua

PayPal’s PYUSD stablecoin could pose a threat to the Ethereum ecosystem.

There are some centralization concerns with PYUSD.

The stablecoin is issued by Paxos, not PayPal, and this means that PayPal does not guarantee Paxos’ performance or any of its obligations.

The PYUSD smart contract was created using an outdated version of Solidity, which could make it vulnerable to attack.

PayPal has a history of freezing user accounts, and there is no guarantee that they would not do the same with PYUSD accounts.

PayPal was already a payment giant before the advent of its stablecoin.