Paypal launches an Ethereum-based Stablecoin! Here's the low-down:
Pros:
1) Adoption potential for crypto among "normies"
2) Interact with Ethereum DeFi
3) Can be used at Paypal checkout window of websites
I am not sure how permissionless this will actually be, so that they can keep it regulatory compliant in eu. I think they must have same issues that why they haven't released BTC payments in eu yet (at least not in all eu countries).
Cons:
1) Very centralized
2) Similar to a CBDC
Not similar to CBDC. This is a pegged to fiat money, while CBDC doesn't need to be pegged to anything but to itself, as it IS fiat money. You don't need to convert to money, it is money, usable in everywhere.