Fintech Insights - PayPal Confirms It Is Exploring Stablecoin Options

January 2022
Fintech & Payments

In early January 2022, PayPal confirmed reports from Bloomberg that it was exploring the launch of its own stablecoin, as part of its broader cryptocurrency push. This followed evidence of the move being discovered within the company’s iPhone app, with the potential stablecoin being called PayPal Coin.

“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,” Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at PayPal, said in a statement to Bloomberg News.

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