Not really a landmark development case, Paypal must change its approach and be more innovative by adapting to the changing times and this will eventually happen, Paypal has lost the competition as the sole and leading payment processor because of the emergence of Cryptocurrency.
Paypal still wants to capture or recapture its market by adapting Cryptocurrency and at the same time taking full control and being centralized and launching its stable coin is the key to this.
Now that they've launched their stablecoin they will have a stronghold in the market, now that they are more in Cryptocurrency I see them launching more products and services related to Cryptocurrency but of course with centralized features.