PayPal Is Considering Developing Its Own Stablecoin
According to a company official on Friday, PayPal (PYPL) is considering developing its own stablecoin as the company expands its crypto business.
PayPal Is Considering Developing Its Own Stablecoin
PayPal is investigating developing its own stablecoin as it adds its crypto business, a company spokesperson told on Friday. Sources informed CoinDesk in September that PayPal subsidiary Curv was actively focusing on creating a stablecoin.
A PayPal spokesman said in an email:
“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,”
Bloomberg broke the story when developer Steve Moser uncovered and disclosed proof of the tech company’s investigation towards creating its own stablecoin in its iPhone app. Hidden code and graphics demonstrate the operation of a “PayPal Coin.” According to Bloomberg, the coding indicates that the US dollar would back the currency.
Stablecoin
The firm has recently increased the amount of cryptocurrency its clients may acquire and investing in educating its consumers about crypto and striving to allow them to deposit their crypto securely to third-party wallets.
According to a spokesperson, the images and code inside the app came from a recent internal hackathon – an event in which software developers collaborate to quickly discover and develop new products that may never see a public release – within the company’s blockchain, crypto, and digital currencies division.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
Coincu News
Author
Market
PayPal Is Considering Developing Its Own Stablecoin
According to a company official on Friday, PayPal (PYPL) is considering developing its own stablecoin as the company expands its crypto business.
PayPal Is Considering Developing Its Own Stablecoin
PayPal is investigating developing its own stablecoin as it adds its crypto business, a company spokesperson told on Friday. Sources informed CoinDesk in September that PayPal subsidiary Curv was actively focusing on creating a stablecoin.
A PayPal spokesman said in an email:
“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,”
Bloomberg broke the story when developer Steve Moser uncovered and disclosed proof of the tech company’s investigation towards creating its own stablecoin in its iPhone app. Hidden code and graphics demonstrate the operation of a “PayPal Coin.” According to Bloomberg, the coding indicates that the US dollar would back the currency.
Stablecoin
The firm has recently increased the amount of cryptocurrency its clients may acquire and investing in educating its consumers about crypto and striving to allow them to deposit their crypto securely to third-party wallets.
According to a spokesperson, the images and code inside the app came from a recent internal hackathon – an event in which software developers collaborate to quickly discover and develop new products that may never see a public release – within the company’s blockchain, crypto, and digital currencies division.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
Coincu News
Other Posts
Related Posts
Latest
Top Reasons to Choose Qubetics, Bitcoin, and AAVE as the Best Coins to Join NowÂ
Market Overview (Dec 16 – Dec 22): Altcoins Stall, BTC Faces Strong Pullback
Press Release
Top Reasons to Choose Qubetics, Bitcoin, and AAVE as the Best Coins to Join NowÂ
Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard
