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PayPal is launching a new platform, PayPal World, this fall to connect domestic digital wallets like UPI and WeChat Pay to its global merchant network. The service mimics stablecoin functionality but operates on traditional fiat rails, bypassing blockchain infrastructure.
- PayPal World enables cross-border transactions via domestic wallets (UPI, WeChat Pay) without blockchain, mirroring stablecoin functionality.
- PYUSD, PayPal’s stablecoin, expands to Solana and Ethereum, with Stellar integration planned, following SEC’s dropped probe.
- Experts debate whether PayPal World competes with stablecoins or validates their use case for micro-payments and underserved regions.
📎 Source reference: decrypt.co