While PayPal was one of the first major financial players to launch its own stablecoin, the company’s CEO Alex Chriss says adoption in the US is still facing significant hurdles. Why are Americans not embracing these digital, price-stable currencies?
📲 “People Don’t See a Reason to Use Them,” Says Chriss
According to Chriss, everyday consumers in the US simply don’t see a compelling reason to switch. Despite increasing media coverage and regulatory discussions, most people are satisfied with their current tools—credit cards, bank transfers, and payment apps. The benefits of stablecoins remain unclear to them.
🌍 Cross-Border Payments as a Gateway
PayPal is currently focusing on cross-border payments as a key use case for stablecoins. In underserved regions where legacy banking systems are inefficient, stablecoins offer speed, low fees, and transparency.
Chriss believes this is where users can truly appreciate the power of stablecoins. PayPal is therefore investing in infrastructure, education, and partnerships to bring stablecoin utility into the real world.
⚖️ New Laws Like the GENIUS Act Could Unlock Growth
Legislation could play a vital role. The GENIUS Act, already passed by the Senate and awaiting a House vote, aims to create a clear regulatory framework and build trust in stablecoins among businesses and consumers alike.
Another key bill, focused on the broader digital asset market, would determine whether the SEC or the CFTC should regulate various types of tokens and cryptocurrencies. This clarity could pave the way for innovation and broader adoption.
🧭 The Road Ahead: Uncertain, But Promising
While the technology is ready, mass adoption remains elusive. Chriss believes that clearer regulations and real-world benefits will eventually win over US consumers.
Once people understand the practical advantages and feel secure using stablecoins, they could become a new standard not just for international transfers—but also for everyday spending.
#Stablecoins , #Paypal , #CryptoAdoption , #DigitalAssets , #Regulation
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