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Title    PayPal Confirms It's Exploring the Launch of its Own Stablecoin
Date    Sunday January 09, @07:01PM
Author    janrinok
Topic   
from the stable-coin-might-exit-the-barn dept.
https://soylentnews.org/article.pl?sid=22/01/09/1251248

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.


Original Submission

Links

  1. "upstart" - https://soylentnews.org/~upstart/
  2. "PayPal confirms it's exploring the launch of its own stablecoin" - https://www.engadget.com/paypal-confirms-stablecoin-110106632.html
  3. "opened" - https://www.engadget.com/paypal-opens-cryptocurrency-all-us-accounts-210541778.html
  4. "check out" - https://www.engadget.com/paypal-checkout-with-cryptocurrency-123547775.html
  5. "increased" - https://www.engadget.com/paypal-cryptocurrency-limit-092042342.html
  6. "Bloomberg" - https://www.bloomberg.com/news/articles/2022-01-07/paypal-is-exploring-launch-of-own-stablecoin-in-crypto-push?sref=10lNAhZ9
  7. "Steve Moser" - https://thetapedrive.com/paypal-is-working-a-stable-coin-called-paypal-coin
  8. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=53241

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printed from SoylentNews, PayPal Confirms It's Exploring the Launch of its Own Stablecoin on 2022-05-22 01:50:37