REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) 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.
"From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG.
Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors.
When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions.
Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.
Persons:
Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis
Organizations:
PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson
Locations:
Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru