● Won-Dollar Crisis, Structural Shock, M2 Divergence
The Won-Dollar Exchange Rate in the 1,550 Won Range: The Real Risk Is Structural Change, Not the Exchange Rate Level Itself
The three key points to note in this report are as follows.
First, a high won-dollar exchange rate is not necessarily negative for the Korean economy as a whole.
Second, the current exchange-rate volatility differs from the IMF crisis and the global financial crisis, when exchange rates rose after a shock had already hit.
Third, the most important point is that exchange-rate instability is being driven not by a problem inside the foreign exchange market, but by structural variables such as M2 liquidity, growth potential, and fiscal soundness in Korea and the United States.
Professor Kim Kwang-seok noted that the won-dollar exchange rate could decline to the low 1,400 won range in the second half of 2026, while also pointing out clear limitations in the current policy response.
In particular, the fact that the dollar index weakens without a corresponding appreciation in the won is a critical signal that cannot be explained by a simple strong-dollar cycle.
1. News Summary: “The Most Risky Variable for the Korean Economy Is the Exchange Rate”
Professor Kim identified the exchange rate as the most significant risk factor in Korea’s economic outlook for 2025 and 2026.
With the won-dollar rate recently rising to around 1,550, concerns have increased over won depreciation, foreign-exchange market instability, and import-driven inflation.
However, the key point is that a high exchange rate is not automatically negative in a simplistic sense.
Korea is a major export-oriented economy.
When the exchange rate rises, exporters earning in dollars benefit from higher won-denominated revenue.
The same applies to individuals and firms that receive dollar-based income, such as YouTube revenues: with the same sales amount, higher exchange rates increase won income.
By contrast, importers, domestic-demand companies, and firms sourcing materials from abroad face higher costs.
In other words, a high exchange rate affects economic agents differently rather than producing a uniform impact across the economy.
2. The Dual Effect of a High Exchange Rate: Exporters Benefit, Importers and Domestic Demand Suffer
A higher exchange rate can be favorable for exporters in the short term.
If 1 USD is converted at KRW 1,200, the exporter receives KRW 1,200; if the rate is KRW 1,500, the same dollar converts to KRW 1,500.
Industries with high export exposure, such as semiconductors, automobiles, shipbuilding, and batteries, may gain some margin protection during periods of currency depreciation.
However, the effect is reversed for import-dependent firms.
Companies importing crude oil, grains, raw materials, parts, or feed must pay more won for the same quantity of goods.
This increases production costs and puts upward pressure on consumer prices.
Professor Kim cited grain imports as a representative example.
Korea imports substantial volumes of grains, and soybeans and corn are widely used as animal feed.
When grain prices rise at the same time as the won-dollar exchange rate, cost pressures on livestock and dairy producers increase sharply.
Higher feed costs can also affect retail prices for milk, meat, and eggs.
In a slowing economy, producers may have limited ability to pass on costs.
As a result, margins compress and some industries may face survival pressure.
3. The Current Exchange Rate Is Different from the IMF Crisis and the Global Financial Crisis
Professor Kim stressed that the current rise in the exchange rate differs fundamentally from the sharp moves seen in past crises.
The exchange rate also surged during the IMF crisis.
It also rose sharply during the global financial crisis.
But in those cases, the economic shock came first and the exchange rate reacted afterward.
When a crisis emerges, investors reduce risk exposure and seek safe assets.
The most typical safe asset is the U.S. dollar.
As demand rose for dollars and funds flowed out of the won, the exchange rate spiked.
In other words, the earlier pattern was: “economic crisis → dollar demand → exchange-rate spike.”
Today, however, Korea cannot be described as being in a conventional foreign-exchange crisis.
Based on the trends discussed in the video, Korea’s growth outlook has not collapsed to an extreme crisis level.
Even so, the exchange rate has moved above 1,500 and remained volatile.
This suggests that the current instability cannot be explained by temporary fear alone.
Professor Kim described it as a structurally rising exchange rate.
4. The Most Unusual Signal: The Dollar Index and the Won-Dollar Rate Are Moving Separately
In general, the won-dollar exchange rate tends to move in the same direction as the dollar index.
When the dollar strengthens, the won tends to weaken, pushing the won-dollar rate higher.
When the dollar weakens, the won tends to strengthen, pushing the rate lower.
In simple terms, if more won are needed to buy one dollar, the exchange rate rises; if fewer won are needed, it falls.
Recent trends, however, are unusual.
Even when the dollar index weakens, the won does not strengthen sufficiently, and the won-dollar rate remains elevated.
This is difficult to explain through a simple strong-dollar narrative.
The key issue is not merely that the dollar is strong, but that structural factors may be weakening the won itself.
This is one of the most important points that is less emphasized in other economic coverage.
5. The Core Point Often Missed Elsewhere: The Foreign Exchange Market Problem Lies Outside the Foreign Exchange Market
Professor Kim stated that “the problem of the foreign exchange market lies outside the foreign exchange market.”
This is the most important line in the analysis.
When the exchange rate rises sharply, authorities can intervene by using foreign exchange reserves to sell dollars and buy won.
Such intervention can reduce short-term volatility.
However, Professor Kim compared this to a painkiller.
It may reduce immediate discomfort when markets become unstable, but it does not address the structural cause.
In a period where the exchange rate is rising structurally, market intervention alone is insufficient.
What are the structural causes?
Professor Kim identified three major factors.
First, the slowdown in Korea’s potential growth rate.
Second, weakening fiscal soundness.
Third, the difference in M2 liquidity growth between Korea and the United States.
The third factor was presented as the key variable in this exchange-rate analysis.
6. M2 Liquidity Moves Exchange Rates: The Currency of the Faster-Paced Money Supply Tends to Weaken
M2 liquidity refers to broad money supply in the financial system.
In simple terms, it indicates how much money has been released into the market.
When money supply expands, the scarcity of that currency declines.
When dollar supply increases, the dollar may weaken.
When won supply increases, the won may weaken.
The issue is the pace.
If both dollar supply and won supply rise, but won supply rises faster, the won may weaken more relative to the dollar.
Professor Kim argued that Korea’s M2 growth has recently outpaced that of the United States in certain periods, creating pressure on the won.
The United States tends to expand money supply aggressively and then tighten sharply when needed.
In 2020, U.S. M2 growth reached roughly 27%.
By contrast, during the tightening phase in 2022 and 2023, U.S. M2 growth fell into negative territory.
In Korea, M2 growth has rarely turned negative in recent years and has continued to rise on a year-over-year basis.
This gap may be contributing to downward pressure on the won.
7. Exchange-Rate Outlook for the Second Half of 2026: Potential Decline to the Low 1,400 Range
Professor Kim projected that the won-dollar exchange rate could decline to the low 1,400 won range in the second half of 2026.
The basis for this view is a change in U.S. liquidity conditions.
The U.S. midterm elections will take place in November 2026.
For President Trump, there is a strong incentive to support growth and expand liquidity ahead of the election.
The video suggested that preparations began in 2025, with debt-ceiling expansion and fiscal capacity forming part of that process.
The key assumption is that the United States could post a large increase in M2 liquidity around August to September 2026.
If U.S. dollar liquidity expands faster than won liquidity, the dollar may weaken relatively.
In that case, the won-dollar exchange rate could fall materially.
In other words, the forecast for a weaker exchange rate is based not simply on an expected decline in the dollar, but on the possibility that U.S. liquidity growth will exceed Korea’s at a certain point.
8. However, Exogenous Shocks Such as a Middle East War Can Change the Entire Outlook
Professor Kim also emphasized a critical assumption in any exchange-rate forecast.
Forecasts can be revised at any time.
For example, a geopolitical shock such as a Middle East war could alter oil prices, inflation, interest-rate paths, gold prices, cryptocurrency trends, and equity-market conditions.
The logic is similar to leaving for a destination expected to take five hours, only to encounter a major accident en route.
Accordingly, the important issue is not the forecast number itself, but the assumptions behind it.
When the assumptions change, investors must be able to revise their outlook accordingly.
This is particularly important for individual investors.
If economic forecasts are judged only as right or wrong, market responsiveness deteriorates.
By contrast, understanding which variables are being emphasized and how changes in those variables alter the conclusion allows for more flexible positioning across equities, bonds, gold, the dollar, and foreign-exchange exposures.
9. Key Watchpoints for Investors
First, distinguish whether the won-dollar rate remains above 1,500 because of a stronger dollar or a weaker won.
A stronger dollar with a rising exchange rate is a different signal from a weaker dollar with the exchange rate remaining elevated.
Second, monitor Korea’s M2 growth rate.
If the pace of won supply remains high, it may continue to pressure the currency.
Third, track U.S. fiscal policy and liquidity timing.
The scale of U.S. money creation ahead of the 2026 midterms could change the outlook for the dollar and the won-dollar rate.
Fourth, monitor import prices and consumer prices together.
Higher costs for grains, energy, and raw materials can affect both inflation and corporate margins.
Fifth, do not rely solely on foreign-exchange intervention for reassurance.
Using foreign-exchange reserves can reduce short-term volatility, but it does not resolve the structural drivers of depreciation.
10. Why Professor Kim’s Approach Matters
The video also highlighted Professor Kim’s approach to economic analysis.
He emphasized building his own charts and interpreting his own data rather than relying on others’ articles or reports.
His “immediate analysis” format follows the same principle.
When comments from President Trump, speeches by Federal Reserve officials, new legislation, or economic data are released, the aim is to assess the economic transmission mechanism directly rather than wait for third-party interpretation.
Such rapid analysis can be wrong.
However, Professor Kim said the value lies not in having a perfect forecast but in presenting the logic and the evidence.
This approach is also relevant for readers of economic content.
Rather than following conclusions alone, investors should understand which data are being weighted and how those weights affect market interpretation.
11. Conclusion for Investors: Exchange Rates Should Be Viewed as a Structural Variable, Not Just a Number
The current won-dollar issue is not simply about whether the rate is 1,400 or 1,500.
The key question is why the exchange rate has risen.
Investors should distinguish between a temporary surge in dollar demand caused by a shock and a structural weakening of the won driven by Korea’s macroeconomic fundamentals and money-supply dynamics.
From Professor Kim’s perspective, greater weight is placed on the latter.
Accordingly, the expectation that the won-dollar exchange rate could decline to the low 1,400 range in the second half of 2026 is based on the possibility of faster U.S. M2 expansion and increased dollar supply.
However, variables such as a Middle East war, a spike in oil prices, renewed inflation, or shifts in the policy-rate path could alter that outlook at any time.
Ultimately, individuals and companies should focus not on the exchange-rate level alone, but on the structural variables that drive it.
< Summary >
Professor Kim identified the won-dollar exchange rate as one of the biggest risks facing the Korean economy.
A high exchange rate may benefit exporters, but it places heavy pressure on importers, domestic-demand firms, and livestock and dairy producers.
The current rise in the exchange rate differs from the IMF crisis and the global financial crisis, when the rate surged as a result of an economic shock.
The key issue is that the won is not strengthening even as the dollar index weakens.
Professor Kim viewed Korea’s M2 liquidity growth, slower potential growth, and weaker fiscal soundness as drivers of won depreciation.
He projected that the won-dollar exchange rate could fall to the low 1,400 range in the second half of 2026, supported by the prospect of stronger U.S. liquidity expansion ahead of the midterm elections.
However, the outlook remains vulnerable to shocks such as a Middle East war, higher oil prices, inflation pressure, and changes in the policy-rate path.
[Related Articles…]
- Won-Dollar Exchange Rate Outlook and Korea’s Economic Risks
- Stablecoin Competition and the 2026 Economic Outlook
*Source: [ 경제 읽어주는 남자(김광석TV) ]
– “환율이 흔들린다” 김광석 교수가 짚은 ‘더 큰 위험’의 정체 | 채널 50만 특별영상 | 취중전망 [1편]
● PayPal-Turned-Target, 80-Trillion Buyout, Silent Board, MA Shock
Why Has the Proposed $53.4 Billion PayPal Take-Private Stalled for Three Months: The Real Core of the Stripe-Advent Deal
The central issue is not simply that “PayPal was almost sold.”
What matters is that PayPal, once valued at as much as $360 billion, has received a reported all-cash acquisition offer worth about $53.4 billion, yet its board has not responded for three months.
The deal involves Stripe, Advent International, Block, antitrust scrutiny, AI-driven cost reduction, digital wallet competition, and U.S. equity market sentiment.
Most importantly, the fact that PayPal is trading below the offer price is the key signal for assessing the probability of deal completion.
1. News Summary: A $53.4 Billion Offer for PayPal
Stripe and private equity firm Advent International are reported to have made a joint offer to acquire PayPal.
The proposed transaction value is $53.4 billion.
That is roughly KRW 80 trillion.
The offer price is $60.50 per share.
The bid is structured as a fully cash offer.
It represents a premium of about 28% to the prior day’s close.
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Offer value: $53.4 billion
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KRW equivalent: about KRW 80 trillion
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Offer price: $60.50 per share
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Structure: all-cash acquisition
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Premium: about 28% to the prior close
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Financing: roughly $50 billion in committed bank debt
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Ownership structure: 50/50 between Stripe and Advent
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Condition: no breakup of PayPal into separate asset sales
Initial contact reportedly took place in early April.
A formal proposal is said to have been submitted in early July.
However, PayPal has still not issued an official response.
As a result, the market is asking why the company has remained silent for so long.
2. PayPal’s Share Price Reaction: Why Is the Stock in the $55 Range When the Bid Is $60.50?
PayPal shares rallied after the news became public.
Even so, the stock closed in the mid-$55 range.
This is the first key point in interpreting the deal.
If the market strongly believed the acquisition would close, PayPal shares would likely trade close to the $60.50 offer price.
If investors expected a competing bid, the stock could even trade above $60.50.
Instead, the shares remain roughly 9% below the proposed price.
This suggests the market is still pricing in three risks.
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The possibility that PayPal’s board rejects the offer
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Antitrust regulatory risk in the United States
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Uncertainty around financing a large debt package
William Blair reportedly believes Stripe could raise its bid to as much as $70 per share.
However, the market does not yet appear to fully believe that scenario.
The current gap between the market price and the offer price indicates that this remains a negotiated transaction rather than a completed one.
3. PayPal Was Once a $360 Billion Company
The significance of the offer is amplified by PayPal’s historical valuation.
PayPal is a pioneer in digital payments.
It is also known as a company associated with Elon Musk and Peter Thiel.
It benefited from the growth of online payments, cross-border commerce, global transfers, and e-commerce.
During the pandemic, online payments surged.
As a result, PayPal’s market capitalization reached about $360 billion in 2021.
Its share price exceeded $300 at the time.
The environment has since changed materially.
At its recent low, PayPal’s market capitalization fell to about $36 billion.
That is roughly one-tenth of its peak value.
The stock is down more than 40% over the past 12 months.
Its five-year return is approximately -84%.
In that context, the proposed $80 trillion valuation may appear large in headline terms, but it is materially below PayPal’s peak value.
For long-term shareholders, the offer may be viewed less as a premium event and more as a forced exit before a recovery attempt is complete.
4. Why PayPal Lost Momentum: Apple Pay and Google Pay Took the Lead
PayPal’s weakness cannot be explained only by soft earnings.
The more important issue is the shift in control over the payments ecosystem.
As smartphone payments expanded, Apple Pay and Google Pay grew rapidly.
Consumers increasingly used the digital wallet embedded in their devices rather than a separate PayPal account.
As payment behavior moved into apps, browsers, and operating systems, PayPal’s relevance diminished.
PayPal still operates a large payments network, but its growth premium has fallen significantly.
Even as broader technology stocks have recovered on expectations of lower interest rates and easing inflation, PayPal has underperformed.
This indicates that the market no longer values PayPal primarily as a high-growth fintech leader.
5. The New CEO’s Turnaround Plan: Reorganization and AI-Driven Cost Cuts
PayPal has been pursuing a turnaround through management changes and restructuring.
According to reports, new CEO Enrique Lores, who took office in March, reorganized the company into three operating units in April.
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Checkout: online payments
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Venmo: peer-to-peer transfers and consumer financial services
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Payments infrastructure and crypto: payment technology, infrastructure, and digital asset-related operations
In May, the company also outlined a plan to use AI to improve efficiency and reduce costs by about $1.5 billion.
This should be viewed not as simple headcount reduction, but as a fintech transition driven by AI.
For a payments company, AI supports customer service automation, fraud detection, risk scoring, personalized payment recommendations, and merchant analytics.
First-quarter results were not weak.
Revenue came in at $8.35 billion, above market expectations.
In other words, PayPal is not a broken company; it is better understood as a business in the early stages of a turnaround.
That is why the timing of the offer matters.
6. Why Stripe Wants PayPal
Stripe was founded in 2010 by the Collison brothers from Ireland and remains a private payments company.
Although not publicly listed, it is considered one of the most influential firms in global fintech.
In a February employee share transaction, Stripe was reportedly valued at about $159 billion.
That makes it nearly three times larger than the target company in this transaction.
Stripe is reported to have processed about $1.9 trillion in payments in 2025.
Its core strength, however, lies in enterprise customers.
Its main clients include e-commerce platforms, SaaS companies, digital platforms, and marketplaces.
In short, Stripe is strong in enterprise payment infrastructure.
PayPal, by contrast, is strong in consumer accounts.
It reportedly has about 430 million consumer accounts.
It also owns the Venmo and PayPal Checkout brands.
By acquiring PayPal, Stripe would quickly gain a consumer digital wallet platform.
That is the central strategic rationale behind the deal.
As TD Cowen noted, the acquisition could significantly reduce the time Stripe would need to build a digital wallet business on its own.
7. What Role Does Advent International Play?
Advent International is a global private equity firm based in Boston.
Its assets under management are reported at about $94 billion.
It has deep experience in payments and fintech.
Since 2008, it has invested about $7.8 billion across 18 payments and fintech companies.
In this transaction, Advent appears to be less of a pure financial investor and more of a strategic partner with industry expertise.
The structure appears to be Stripe providing technology and payments expertise, while Advent supports financing and transaction execution.
If the two firms acquire PayPal, they could form the world’s largest online payments company, with annual payment volume of about $3.7 trillion.
At that scale, the competitive landscape of both the U.S. equity market and the global payments sector could shift meaningfully.
8. The Block Participation Report: Jack Dorsey’s $17 Billion Is Unconfirmed
According to CNBC, there have also been reports that Block, led by Jack Dorsey, may contribute $17 billion in equity.
However, that report has not been confirmed.
If Block were to participate, the strategic significance of the deal would increase further.
Stripe is strong in enterprise payment infrastructure.
PayPal has consumer accounts and Venmo.
Block is strong in Cash App, small-business payments, and Bitcoin-related services.
Together, the three platforms could form a large fintech ecosystem spanning consumer finance, merchant payments, digital wallets, and crypto payments.
For now, however, the Block report remains unconfirmed and should not be treated as a base case in investment analysis.
9. The Key Point Missing From Other Coverage: The Report Itself May Be a Negotiation Tool
The most important point in this story may be the way the information is being disclosed.
The Reuters report, based on anonymous sources, appears to emphasize terms favorable to the buyers.
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Committed financing is in place.
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The company will not be broken up and sold in parts.
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The buyers want to negotiate.
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Shareholders are being offered a fully cash premium.
By contrast, PayPal’s side is largely absent.
That may not be accidental.
After three months without a response from PayPal, the buyers may have chosen to publicize the proposal through the media.
Once the offer becomes public, the stock moves.
As the share price rises, PayPal’s board is no longer dealing only with the bidders.
It also faces pressure to explain why it is not considering a 28% premium for shareholders.
For that reason, the report can also be viewed as a negotiation tactic.
The reported board meeting to discuss the proposal on or around July 20 adds further significance to the timing.
10. The New CEO Has Experience Defending Against Hostile Bids
Another reason PayPal may be slow to respond is the CEO’s background.
Reports indicate that Enrique Lores previously served as CEO of HP.
He is known for helping block the attempted hostile acquisition of HP by Xerox and activist investor Carl Icahn in 2019 and 2020.
In other words, he has experience facing an unsolicited takeover attempt.
He also has experience winning that kind of fight.
That background supports William Blair’s view that the new CEO is unlikely to accept a low offer easily.
From PayPal’s perspective, accepting the current price would eliminate the chance to demonstrate turnaround progress.
It would also occur before AI-driven cost savings, business unit restructuring, Venmo growth, and Checkout improvements are reflected in results.
That may help explain the board’s silence.
11. Regulatory Risk: The Most Important Variable Not Fully Reflected in the Report
The quiet but most important issue in this deal is antitrust scrutiny.
Stripe and PayPal are both widely used in internet commerce.
A combination of the two would create substantial influence over online payments.
Strategically, the combination is highly attractive.
For regulators, however, that is precisely the concern.
If the merged company could route transactions through its own network and reduce dependence on Visa and Mastercard rails, the balance of power in the payments ecosystem would shift.
This is both the strategic rationale for Stripe and the first issue regulators are likely to examine.
Recent U.S. enforcement trends have shown increasing pressure on large platform and media transactions.
A deal combining payment data, consumer accounts, and merchant networks would likely face a more demanding review.
Accordingly, this transaction is not simply a matter of capital availability.
It also involves antitrust policy, fintech regulation, consumer data protection, and payments network competition.
12. The Realistic Calculation for PayPal Shareholders
For PayPal shareholders, the news has different implications depending on entry price.
For investors who bought in the $40s or $50s, a $60.50 all-cash offer may be attractive.
For long-term holders who bought in the $200s or $300s, the picture is very different.
If the deal closes, shareholders would receive $60.50 in cash per share.
PayPal would be delisted.
At that point, there would be no further opportunity to wait for a recovery.
If the transaction fails, the stock could return to levels seen before the offer.
Historically, stocks that rise on takeover speculation often give back those gains if the deal collapses.
That is why a headline premium of 28% should not be the only basis for judgment.
The key question is the difference between an investor’s average cost and the $60.50 offer price.
Another question is whether PayPal could create more value as an independent company over the next one to two years.
That is the core investment decision.
13. Three Factors to Watch Next
The first is the PayPal board’s position around July 20.
Even a statement that the proposal is under review could move the stock again.
A clear rejection would increase the likelihood of short-term weakness.
The second is whether Stripe raises its offer.
Some analysts believe $60.50 may not be the final price.
William Blair has suggested that $70 per share is possible.
If the price rises toward that level, the board’s and shareholders’ decisions could change.
The third is the possibility of a third bidder.
If another fintech company or large financial institution enters the process, a bidding contest could emerge.
However, because payments is a highly regulated sector, more bidders would also mean more regulatory complexity.
14. The Meaning of the Deal in the AI Context
This transaction is not only a fintech acquisition.
It also reflects a renewed focus on the value of payments data in the AI era.
Payments companies hold consumer purchase data, merchant sales data, transaction frequency, failure rates, fraud patterns, and regional spending trends.
When combined with AI models, this data becomes a core financial services asset.
For example, AI can improve authorization rates.
It can detect fraud faster.
It can recommend financial products more precisely.
It can help merchants with inventory, pricing, and marketing decisions.
If Stripe has enterprise data and PayPal has consumer account data, the combination would be powerful from a data perspective.
Adding Venmo’s social payments data and crypto infrastructure would further expand its potential as an AI-enabled fintech platform.
Accordingly, the real issue is not only who collects more payment fees.
It is who controls consumer and transaction data in the AI era.
15. Market Implications: More M&A for Undervalued Tech Firms Could Follow
The PayPal case may also signal a broader trend in U.S. equities.
Many growth stocks that were highly valued during the pandemic remain far below their peaks.
As expectations for lower rates increase and inflation eases, large private equity firms and strategic acquirers may revisit these companies.
Companies with cash flow but weak growth expectations may become acquisition targets.
PayPal fits that profile.
It has a strong brand, customer accounts, payment data, and room for cost savings.
At the same time, the market has significantly reduced its growth premium.
Such companies can appear undervalued in public markets and attractive to private buyers seeking restructuring and resale opportunities.
For that reason, the PayPal case could renew investor attention on M&A potential across Nasdaq growth names.
What Is Easy to Miss in Other Coverage
First, the real benchmark for this transaction is not the headline premium but the gap between the share price and the offer price.
That gap shows the market still sees the deal as uncertain.
Second, the report itself may be part of the negotiation strategy.
After three months of silence, the bidders may be using the media to pressure PayPal and its shareholders.
Third, the CEO’s background matters materially.
A CEO with prior hostile-bid defense experience is unlikely to sell quickly at a low valuation.
Fourth, regulatory risk is a core variable even though it is not emphasized in the article.
The combination of Stripe and PayPal could alter competition in online payments.
Fifth, in the AI era, payments data is a strategic asset.
This transaction should be viewed not only as a company acquisition, but as an attempt to secure consumer, merchant, and transaction data.
< Summary >
Stripe and Advent International are reported to have offered PayPal $53.4 billion, or about KRW 80 trillion, in an all-cash acquisition proposal.
The offer price is $60.50 per share, representing a premium of about 28% to the prior close.
However, PayPal shares remain in the mid-$55 range, indicating that the market does not yet fully expect the deal to close.
PayPal’s market capitalization once reached KRW 536 trillion in 2021 but has since fallen sharply from its peak.
For Stripe, acquiring PayPal would provide immediate access to 430 million consumer accounts, Venmo, and digital wallet capabilities.
The key variables are the PayPal board’s decision, a possible increase in the offer price, the emergence of additional bidders, and antitrust review.
This should be viewed not merely as a fintech M&A story, but as a competition for payments data in the AI era.
[Related Articles…]
*Source: [ Maeil Business Newspaper ]
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