Crypto for Advisors: Investing in Web3

Consider U.S. dollar stablecoins, which we believe will become ubiquitous payment tools, with companies like PayPal (PYPL), which recently launched its own stablecoin, PYUSD. So far, PYUSD is a small part of the overall stablecoin market, but it is growing very quickly, having increased the total supply in the first 100 or so days to around $150 million in circulating supply (Figure 1).

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