PAYPAL launches Xoom

In what seems to be a direct shot across the bow for Ripple, the banking cartel have launched Xoom.

The banking system already have SWIFT for bank to bank transfers, which Ripple took control of via S3.
But international transfers of funds for consumers had always been tricky & expensive.

This is where FB's coin Libra, which is not a true crypto due to it's centralised nature, became such a threat to this market segment that Paypal have had to rush to the market with their own C2C coin.

It will be interesting to watch the market development of this coin. Consumers just want an easy way to pay for good from overseas, but will they accept a propitiatory coin to do so? Since Paypal, normally linked to Visa cards for ID purposes, has yes to be grilled by the SEC & others as is happening with FB & Libra.

What rules are Paypal launching a new coin under? Will the SEC shut them down? Will this coin spread so fast it can't be shut down?

Time will tell

https://beincrypto.com/paypal-launches-low-cost-international-remittance-service-xoom-across-europe/