PayPal, considered the world’s largest payment company, is thinking of launching Stablecoin, a cryptocurrency, Stablecoin refers to those crypto coins whose value is linked to dollars or any currency. For example, if USDT whose value is equal to the US dollar, then one USDT is equal to one US dollar.
The advantage of stable coins is that no matter how high the market is down, you do not get to see any change in Stablecoin, their value remains the same. Because of this investors like to put their money in them.
Tweeted by Steve Moser on Twitter where he told that PayPal is Preparing to launch its own PayPal Coin
The news of PayPal’s Stablecoin launch came to light when developer Steve Moser showed the option of PayPal Coin inside the company’s iOS app during the company’s hackathon, which included PayPal’s logo. This was disclosed by PayPal Senior Vice President Jose Fernandez Da Ponte in a Bloomberg report.
This was also tweeted by Steve Moser on Twitter where he told that PayPal is preparing to launch its own stable coin which will be known as PayPal Coin. Jose Da Ponte further said in the report, “If we work on this further, we will work in this together with the regulator, although it was a Hackathon, so where can’t go now”
PayPal had started the facility to buy and sell cryptocurrencies on its app in the year 2020, after that in 2021, PayPal also started the option of buying other things with crypto on its app. Apart from launching the stable coin, PayPal is also considering launching the Neo cryptocurrency.