Tether Co-Founder Assesses PayPal’s Plans for Stablecoin Dominance!

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PayPal is reportedly showing interest in launching its own stablecoin, and the move is inspired by potential savings on trillions of dollars worth of multicurrency transactions, according to Tether co-founder William Quigley. He said that when he co-founded Tether, he considered it a “charitable contribution” to the open-source blockchain sector. Tether is one of the most prominent stablecoins, with a market cap of nearly $69 billion. PayPal has already dipped its toes into the crypto sphere by allowing users to buy and sell cryptocurrencies through its platform.