PayPal Explores Launch of Own Stablecoin in Crypto Push - BNN Bloomberg
( January 7, 2022; BNN )
Description: "(Bloomberg) -- PayPal Holdings Inc. is exploring the launch of its own stablecoin as part of its cryptocurrency push, according to the company, which confirmed the development after evidence of the move was discovered inside its iPhone app. "
Evidence of the company’s exploration into building a stablecoin was first discovered in PayPal’s app by developer Steve Moser and shared with Bloomberg. Hidden code and images show work on what is dubbed a “PayPal Coin.” The code indicates such a coin would be backed by the U.S. dollar.
A company vice president, Jose Fernandez da Ponte , confirmed that they are exploring the possibility and asserted that the firm will work with regulators if they pursue the idea. He also noted that such a stable coin would need to operate securely and at scale. A spokesman added that the revelatory code had been added to the iPhone app as a result of a recent internal hackathon.
Paypal already offers its customers the ability to buy and sell BTC, ETH, LTC, and BCH.
Read the rest from BNN: PayPal Explores Launch of Own Stablecoin in Crypto Push - BNN Bloomberg
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I wonder if "make your own coin" is going to continue to be the standard way for projects to explore crypto. When Kickstarter revealed they were planning to start using blockchain technology I assumed they were going to be launching their own coin, but they also talked about being based on the CELO protocol. Although they haven't revealed any details yet, I realized that CELO already has some algorithmic stablecoins and I now suspect KS's plan may not be to have their own coin but to just be a bundle of smart contracts with the existing CELO coins and stablecoins.
I wasn't aware of the Kickstarter plans, but everything I can find refers to their plan as a "protocol" not a "coin" or "token", so I think your suspicion might be right.
For many big companies, I guess the desire to have a token with your own unique brand is high, though. I think that was part of the logic behind SMTs, before that got derailed. I recently read an article about how the crypto.com coin (CRO) went up in value by more than the purchase price when crypto.com announced their purchase of naming rights for the arena where the LA Lakers play.
It's great that more and more big companies will support the big advances in cryptocurrencies, and create their own coin, facebook, and now paypal, meaning anyone can invest and earn, so that applications that that is really useful and useful, apart from being a social media and buying and selling transaction or financial application, but users can also invest and benefit from using the application, and sure enough. they are working on regulations that will ensure this grand plan runs smoothly.
Wow great news. But even this great news couldn't stop the cryptocurrency price from falling because it looks like we've entered a bear period.
It sure does look like we have entered a bear period. At this point, I'm guessing that BTC's 4 year halving cycle is done and we bounce around between 30k and 60k 'til the next leg starts sometime around 2024. Seems like each halving gets a little less impactful than the one before.
I use PayPal to make some purchases, on some occasions they have asked me too much documentation, it is the part that I do not like, however it seems quite reliable, in relation to its currency, I do not like the fact of being stable, but this also ends what we want, decentralization, will seem to be slowly lost in most cryptocurrencies
I see recently many giant companies have been willing to launch their own crypto currency. I think it will encourage and attract more and more billionaire and millionaire of the world to crypto world who are still far away from it. Moreover entering ginat company to crypto means their is more flow of money. It can really change the crypto world. Thanks paypal.
Big news. First time i heard that.
Paypal is not legal in our country. We don't use that. But paypal coin is different types, and new in crypto
Is a fundamental issue regarding the importance of a stable currency whose code according to its endorsement is synonymous with security.Greetings.
Welcome -stablecoin.