Will it also be listed on the exchanges like binance?
I have the feeling that it won't but will just be for their own platform because PayPal was also planning to buy an existing exchange. I have also read this information from Twitter. Paypal's token will likely have a use case on their platform only.
They should since they are capable, they have assets to back up their claims and their token, they have millions of merchants, they can push the Cryptocurrency to a greater heights, the only issue is they might encounter problem with the regulatory commission just like what happen to Libra, they should weigh their option, they are a big company coming in the Cryptocurrency.
The regulators actually realize that there is a need for companies to create coins when cryptocurrency or blockchain will be adopted in every possible way. The regulators now are seeing that what Facebook did is where the future will be.