PayPal stablecoin: Could it legitimize the space, use cases?

PayPal has announced its own U.S. dollar-backed stablecoin, which will allow customers to use the new PYUSD to purchase products, transfer to external wallets as well as peer-to-peer transfers. Brendan Pedersen, Punchbowl News Financial Services Reporter and Author of The Vault, Punchbowl News' newsletter discusses potential use cases for the new stablecoin, noting that other nations have instant-payments systems and that stablecoins provide a private sector alternative.