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
390
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?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 882
BTC
+0.3%
-
Ethereum
$3 318.52
ETH
-1.49%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+20.77%
-
Dogecoin
$0.410284
DOGE
+6.31%
-
Cardano
$1.01
ADA
+24.35%
-
Stellar XLM
$0.34322
XLM
+35.9%
-
Bitcoin Cash
$487.09
BCH
+0.2%
-
Polkadot
$6.57
DOT
+10.7%
-
Litecoin
$91.05
LTC
+2.29%