PayPal is considering launching its own StableCoin, a type of digital currency backed by another asset as it seeks to further expand the crypto sector.
As the name suggests, more stable coins are used as a method by a current value asset, such as fiat currency, exchanged commodities (such as precious metals), or even other digital currencies. Backed for stability. worth. p>
Steve Moser of The Tape Drive discovered evidence of a coin called PayPal Coin in the PayPal iOS app. When Bloomberg called for comment, Jose Fernandez Daponte, PayPal's vice president of crypto and cryptocurrency, said the company was looking at stablecoins, adding that if and when they look forward, it will work closely with relevant regulators in this region. Difficult. p>
< p> If any can Someone building a viable stable currency, it is PayPal. Founded in the late 1990s, the fintech company has been at the forefront of online payments ever since. Recently, PayPal has made great progress in the field of crypto.
After Facebook's unfortunate retreat from Libra cryptocurrency in 2019, PayPal allowed customers in the United States to buy, hold and sell four types of cryptocurrency. It brought a performance similar to Venmo on its platform. PayPal also acquired crypto security firm Curv, increased weekly shopping restrictions, and offered crypto services to UK customers. p>
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