PayPal is preparing to launch its own stablecoin
The platform will focus on the ability to pay with its digital asset
10.01.2022 - 10:55
274
1 min
0
What's new? PayPal plans to launch its own stablecoin as a part of a strategy to take advantage of cryptocurrency adoption. PayPal’s senior vice president and general manager for blockchain, crypto and digital currencies, Jose Fernandez da Ponte confirmed this information to Bloomberg.
Material on the Bloomberg website
What was known before the official announcement? Fernandez's announcement came after the iOS developer Steve Moser discovered the parts of the source code of PayPal's iPhone app. They indicated that the company is working on a coin, “PayPal Coin.” The logo, name, and characteristics of the stablecoin may change before release.
What did Fernandez da Ponte say? PayPal's vice president stated that the company has not found a stablecoin to be used for payments. According to Fernandez, PayPal will develop two directions before releasing its own coin:
“The technology preparation in terms of security, throughput, and scalability is one of the aspects. Another aspect is the regulation of the asset.”
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024