Why PayPal’s stablecoin is likely to succeed where Facebook’s Libra failed

PayPal’s stablecoin is likely to succeed where Facebook’s failed, thanks to the payment giant’s standing in Washington and policymakers’ greater understanding of the issues in the last three years.

PayPal this month said it was launching PayPal USD, a crypto token pegged to the US dollar, making it the second major global company to launch a stablecoin after Facebook, now Meta Platforms, unveiled Libra in June 2019.