PayPal May Launch a Stablecoin Soon
As reported by Bloomberg, PayPal is working on launching a stablecoin backed by the U.S. dollar. The company’s Vice President, Jose Fernandez da Ponte doesn’t confirm this but promises that if they indeed decide to do it, they will work on it together with the official regulators.
The information was found in the company’s app for iPhone, in the stablecoin sector. The coin is called PayPal coin. The company’s press secretary says that the design of the coin-to-be was created during the hackathon and the final result may look differently.
PayPal keeps moving deeper into the cryptocurrencies’ field. They adopted the option of storing, buying and selling crypto, enabled the digital payments and created a crypto wallet. The stablecoin won’t be a surprise to anyone.