Bitcoin Magazine sits down with Walter Hessert, Head of Strategy at Paxos, on PayPal’s PYUSD stablecoin, their recent Venmo Integration, and the broader implications on the Bitcoin market.
Bitcoin-backed credit built with DeFi represents a stronger and more practical vision of "bitcoin free banking" originally described in 2010 by Hal Finney.
The eurodollar has been an instrument that allowed for massive global credit and leverage. Bitcoin will benefit from the de-leveraging of that failing system.