币界网报道：PayPal's stablecoin PYUSD has yet to gain significant traction in the crypto market despite the company's strong brand recognition, according to industry analysts. Launched in August 2023, PYUSD currently holds a market cap of just $188 million, ranking it as the 15th largest stablecoin—far behind leaders like Tether ($96 billion) and USD Coin ($28 billion). Experts attribute the slow adoption to PayPal's cautious rollout strategy, limited exchange listings, and the dominance of established stablecoins in DeFi and trading. While PayPal's 400 million users provide potential for growth, analysts note the stablecoin lacks clear utility advantages over incumbents. The firm has gradually expanded PYUSD's availability, recently adding it to Venmo and enabling cross-border transfers via Xoom, but broader crypto integration remains slow. Market observers suggest PayPal may need more aggressive promotion and unique use cases to compete effectively in the crowded stablecoin sector.