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PayPal's PYUSD and Ethena's USDE have had differing market trends: PYUSD's uptake has been modest despite brand power, while USDE has shot up like a rocket with its cash-and-carry trade strategy.
"There had been no clear purpose for PYUSD in the market, besides being a stablecoin associated with a major brand, [but] last week we saw the company differentiate its stablecoin by offering free global remittances for those who used it."
https://www.axios.com/pro/fintech-deals/newsletters/2024/03/14/fintech-conservative-bnpl-buy?chunk=1
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