Tether’s Co-Founder Expresses Doubt Over PayPal’s Foray Into Stablecoins, Predicting A Dearth Of Innovation Tether’s co-founder says PayPal’s foray into stablecoins will not lead to greater sector innovation.He suggests that the payment giant could lean on stablecoins to increase profitability.Experts argue that PayPal’s push into stablecoins could disrupt the existing conditions in the ecosystem, given its deep user base.Nearly one month after launching its stablecoin, a measure of doubt continues to trail PayPal’s foray, with critics poking holes in the project’s innovativeness. Tether co-founder William Quigly submitted that PayPal’s decision to launch a stablecoin is largely fuelled by the desire to increase its profitability. In a recent interview with Coindesk, Quigly noted that he does not expect seismic levels of innovation from PayPal’s PYUSD stablecoin, hinting that the offering will be in the same mould as other stablecoins.

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