PayPal may issue a stablecoin
PayPal will explore the possibility of launching a US dollar-backed stablecoin. This is reported by Bloomberg with reference to the vice president of the company Jose Fernandez da Ponte.
According to him, if a decision is made to launch a stable coin, the payment giant will closely cooperate with regulatory authorities on this issue.
According to Bloomberg, developer Steve Moser discovered the first evidence of PayPal's research into the stablecoin sector in the company's iPhone app. According to him, the coin is called PayPal Coin.
A PayPal spokeswoman explained that the images and code inside the application appeared as a result of the hackathon. According to her, the final logo, name and functions of the product may change during development.
