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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: 2) by ElizabethGreene on Monday January 10, @03:04PM

    by ElizabethGreene (6748) on Monday January 10, @03:04PM (#1211494)

    My experience with PayPal's customer service imeans I wouldn't trust them (or their Stablecoin) if they gave it to me wrapped in a bow. Paypal has a sketchiness factor that ranks right there with Comcast, Wells Fargo, and Uber.

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