Paypal Coin: Payments Giant Explores Launching Stablecoin to Boost Crypto Offerings

Paypal Coin: Payments Giant Explores Launching Stablecoin to Boost Crypto Offerings


Paypal is reportedly working on a stablecoin backed by the U.S. dollar to expand its cryptocurrency offerings. “We will, of course, work closely with relevant regulators,” the company stressed.

Paypal Is Exploring Launching Its Own USD-Backed Stablecoin

Paypal Holdings Inc. is reportedly exploring the launch of its own stablecoin backed by the U.S. dollar as part of the company’s cryptocurrency push, Bloomberg reported Friday.

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Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at Paypal, confirmed to the publication:

We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators.

The evidence of Paypal’s stablecoin was first spotted by developer Steve Moser, who shared his findings with the news outlet. He

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