Stripe Plans to Acquire PayPal for $53 Billion. Here's What That Could Mean for Crypto Investors.
Yahoo Finance ·
On July 15, Stripe made an offer to buy PayPal ( PYPL +0.99% ) for $53 billion. While PayPal has not accepted that offer as of July 22, with its board opting on July 20 to hold out for a higher price, the acquisition could still very well go through in the near future. Crypto investors now need to reckon with what these companies have already built separately. Their combination would carry immediate consequences for XRP ( XRP -2.41% ) , Solana ( SOL -2.32% ) , and other coins, and would dramatically shake up the pecking order among stablecoins, with knock-on effects elsewhere. Let's analyze how this deal could change crypto's competitive landscape overnight despite neither Stripe nor PayPal being crypto-first businesses. Stripe's foray into crypto accelerated dramatically with its launch of Tempo, a payments-first blockchain for stablecoins, on March 18. Transaction fees on the network are minimal and can be paid in any stablecoin, as there's no native token. Leading financial companies were Stripe's design partners for Tempo, including juggernauts like Visa , Mastercard , and others. Then, on June 30, more than 140 organizations, including Stripe, Visa, and Coinbase Global , announced the upcoming launch of Open USD (OUSD), a consortium-backed stablecoin that will launch natively on Solana with additional chains to follow and that shares the reserve yield of its underlying assets with its consortium partners rather than pocketing it as is the norm with most other stablecoins.
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