What are your views on Paypal's Stablecoin?

sourav

Lately I saw on online forums that the crypto community seems divided along the lines that PayPal with most of them against it. What are your views on it?

gopal

The reason why most people are against PayPal’s stablecoin is that it has control over all user funds and can wipe them out anytime it wants. How would you feel if your bank refused to let you withdraw your salary?

dharmendar

PayPal’s stable coin is actually a better decision towards advancement in its technology. Now people would receive funds a lot faster. And hopefully, these funds transfers will not be charged too much as transaction charges. The allegations of the ability to wipe accounts and freeze funds at will are required for compliance in multiple jurisdictions such as the USA, European Union, etc.

chetan

PayPal’s stablecoin is a centralised crypto that goes against the very ethos of creating a decentralized world. Therefore it has faced criticism. Further, the ability to wipe out funds by PayPal seems like a step that might freeze and seize anyone’s money. Nobody likes to lose their hard-earned income. Further, there could be no