TL;DR: thanks to strong regulation from the state of New York for crypto, and weird and confusing regulation of PayPal across the country, PayPal’s stablecoin ends up being invested more conservatively and transparently while providing a stronger claim for customers in the event of PayPal’s bankruptcy than a traditional PayPal balance. Not the outcome I would have expected!
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For me it’s moot… I suggest boycotting #Paypal:
https://git.disroot.org/cyberMonk/liberethos_paradigm/src/branch/master/rap_sheets/paypal.md
Sharing customer info with 600+ companies is well beyond reasonable. And the way they freeze accounts arbitrarily… just bizarre that people still use them.