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Entertainment: rumors confirmed: PayPal checks introduction of a separate stable coins

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PayPal now confirmed the rumors: The payment service provider dares another push into the Krypto universe and works on its own stable cooin - especially for payment transactions.

INDRANIL MUKHERJEE/AFP/Getty Images © Provided by Indranil Mukherjee / AFP / Getty Images

• PayPal dares another step in Krypto Nutrition Offensive

• Introduction of a separate stable coin for payment transactions

• Corresponding details in source code The PayPal app appeared

PayPal has been interested since Quite some time for crypto currencies. For example, users in the US and also in the United Kingdom since 2021 has been possible to buy, sell and pay Bitcoin & Co. about the payment provider.

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Further Krypto Institution

A source code analysis has now revealed further plans from PayPal in this area. Developer Steve Moser has detected evidence for another step in the crypto-feed offensive in the app of the payment provider and shared it with Bloomberg. - bitcoin action with plus 500 - that's how it works. 72% of private investor accounts lose money when using this provider CFDS . You should carefully check if you can afford to take the high risk of losing your money. - A hidden code and pictures show the work on a so-called "PayPal Coin". Thus, the company is now working on its own stable coin, which should be covered by the US dollar.

A spokeswoman of PayPal then explained that this was created in the context of a recently held internal hackathon within the department for blockchain, crypto currencies and digital currencies, as Bloomberg reports. However, since a hackathon quickly explores and develop new products that may never be published in this species, it is quite possible that the name, logo and design is not yet the final version.

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close collaboration with authorities

also Jose Fernandez da Ponte, Senior Vice President of Crypto and Digital Currencies at Paypal, confirmed the rumors recently again to Bloomberg: "We probe a stable cooin; if and when we move forward, we will of course be closely related to the Competent regulatory authorities cooperate ". In a podcast that has already been recorded last November, Fernandez Da Ponte declared that the company "has not yet seen a stable coin, which was specially developed for payments," quoted Bloomberg. And on, "It would have to clarify the regulation, regulatory framework and the type of licenses needed in this area."

Whether PayPal is actually launching its own stable cooin and when this could be the case is still unclear so far.


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