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One platform for global traditional assets
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Wu said that Lightspark CEO and former PayPal President David Marcus posted a review of PayPal nearly 12 years after leaving, stating that the company has long focused on financial optimization while neglecting product and platform strategies. Marcus specifically mentioned the stablecoin PYUSD: technically there are no issues, but strategically there is a lack of justification. Although there is distribution capability, there are no real, endogenous transaction demands, and it is not deeply embedded in payments, cross-border settlements, or programmable money flows. It is more "attached to products" rather than becoming a core settlement layer or a new payment track.