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PayPal reportedly confirms plans to explore the launch of a stablecoin

Published 01/08/2022, 02:03 AM
Updated 01/09/2022, 04:00 AM
PYPL
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American fintech giant PayPal (NASDAQ:PYPL) Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser.

Confirming the evidence found on the PayPal app, Jose Fernandez da Ponte, PayPal’s SVP of crypto and digital currencies, told Bloomberg News:

PayPal Coin logo found inside of PayPal app. Source: PayPal iPhone app

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