PayPal reportedly confirms plans to explore the launch of a stablecoin

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The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser.

American fintech giant PayPal Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser.

Confirming the evidence found on the PayPal app, Jose Fernandez da Ponte, PayPal’s SVP of crypto and digital currencies, told Bloomberg News:

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

https://cointelegraph.com/news/paypal-reportedly-confirms-plans-to-explore-the-launch-of-a-stablecoin

[TomPluz]

This is what I have been predicted months ago when PayPal made a big splash in the crypto market. And they, of all online payment organizations around, can be more qualified to develop their own stablecoin though this move can be facing a strong opposition from the US government itself akin to the one which Libra faced...but then if PayPal will first setup thing with regulators and learned the lessons from Facebook's failed move to stablecoin, then maybe it would have a bigger chance of seeing the bright day. PayPal Coin can easily topple top stablecoins in the market.

[yawar20]

This is good informative email post sir. This give me idea how these big corporations can create and implant anything in no timw but this will definitely kill the free nature of crypto. Ao am against this type of in-home currencies.