Stripe Plans to Acquire PayPal for $53 Billion. Here's What That Could Mean for Crypto Investors.
This fintech acquisition could change the main venues for stablecoin flows.
Overview
On July 15, Stripe made an offer to buy PayPal (NASDAQ: PYPL) 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 (CRYPTO: XRP), Solana (CRYPTO: SOL), 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.
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Originally published at www.fool.com.