Bank of America doubts the widespread adoption of PayPal’s stablecoin

In early August, PayPal announced its intention to issue its own US dollar-backed stablecoin. The token will be deployed on the etherium network and its issuance will be handled by Paxos.
Bank of America believes that the PYUSD stablecoin will not enjoy widespread popularity in the global market.
According to the financial giant’s experts, central bank digital currencies (CBDCs) will be the most attractive instrument for cross-border payments.

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