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posted by janrinok on Sunday January 09, @07:01PM   Printer-friendly
from the stable-coin-might-exit-the-barn dept.

PayPal confirms it's exploring the launch of its own stablecoin:

PayPal has been expanding its cryptocurrency business since it opened trading to all users in 2020. It allowed US customers to check out with cryptocurrency and increased its crypto buy limit over the past year. In the future, it might also offer a stablecoin of its own. Jose Fernandez da Ponte, SVP of crypto and digital currencies at PayPal, has confirmed to Bloomberg that the online payment provider is "exploring a stablecoin." He also said that the company will work closely with relevant regulators "if and when [it] seek[s] to move forward."

A developer named Steve Moser found hidden code and images for a "PayPal Coin" in the company's app and shared them with Bloomberg. Based on what he discovered, the PayPal Coin will be backed by the US dollar.

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  • (Score: 3, Touché) by Mojibake Tengu on Sunday January 09, @07:54PM (2 children)

    by Mojibake Tengu (8598) Subscriber Badge on Sunday January 09, @07:54PM (#1211302) Journal

    Reminder: Corporations may legally bankrupt.

    The edge of 太玄 cannot be defined, for it is beyond every aspect of design
    Starting Score:    1  point
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  • (Score: 0) by Anonymous Coward on Sunday January 09, @08:32PM (1 child)

    by Anonymous Coward on Sunday January 09, @08:32PM (#1211310)

    But can't let the peon's do the same! Seriously, time to roll back corporate giveaways.

    • (Score: 2) by JoeMerchant on Monday January 10, @01:37PM

      by JoeMerchant (3937) on Monday January 10, @01:37PM (#1211483)

      Actually, people can also bankrupt, but people have to live with the consequences for 7+ years whereas Corporations simply dissolve (and the principals often go reform a new corporation to do the same thing even before the bankrupt one is gone.)

      Україна не входить до складу Росії.