Actually, all of them aren't decentralized as long as it's being owned by an entity or there's a central authority that has made by it. So if this stable coin of Paypal is made, you don't expect it to be decentralized. In the past, Tether could even freeze your funds if you've done something wrong and it's reported to them, that your USDTs are likely to be frozen by them.
(https://cointelegraph.com/news/circle-tether-freezes-over-65m-in-assets-transferred-from-multichain)
Your account alone there also can be subjected to freezing if they find you did something wrong too.