Thu. Jan 20th, 2022

PayPal has been expanding its cryptocurrency business Open Trading with all users in 2020. This allows US customers Check out With cryptocurrency and Increase Its crypto buying limit over the last year. In the future, it may also offer a stablecoin of its own. PayPal’s crypto and digital currency SVP Jose Fernandez confirmed to Da Ponte Bloomberg That online payment provider is “looking for a stablecoin.” He added that the agency would work closely with relevant regulators “if and when [it] Wanted[s] Move forward. “

A developer by the name of Steve Moser Found and shared hidden codes and images for a “PayPal coin” in the company’s app Bloomberg. Based on what he discovered, PayPal currency would be supported by the US dollar. It may be featured with two horizontal slashes across the PayPal logo, although this may change as soon as the coin is turned on when it sees daylight. A spokesman told the publication that the information discovered in the Mosaic app was from an internal hackathon of the company’s blockchain, crypto and digital currency divisions.

Stablecoins are cryptocurrencies backed by fiat currencies and generally higher, better, more stable than their decentralized counterparts. Meta (formerly Facebook) has bigger crypto plans, and was about to launch a digital wallet that supports its own stablecoin called Diem. However, it has faced pushback from regulators and launched a cryptocurrency wallet. New Instead with stablecoins called pax dollars.

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