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PayPal Confirms It's Exploring the Launch of its Own Stablecoin

posted by janrinok on Sunday January 09 2022, @07:01PM   Printer-friendly
from the stable-coin-might-exit-the-barn dept.

upstart writes:

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, Insightful) by mhajicek on Monday January 10 2022, @07:46AM

    by mhajicek (51) on Monday January 10 2022, @07:46AM (#1211455)

    Smart or not isn't the issue. They'll happily risk other people's money and wellbeing so long as they get theirs. This often means individuals will make decisions that are not in their company's best interest.

    --
    The spacelike surfaces of time foliations can have a cusp at the surface of discontinuity. - P. Hajicek
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