Paypal works on the issuance of its own stablecoin

The online payment platform Paypal announced, through its senior vice president of cryptocurrencies, that it is developing its own digital asset

The online payment platform Paypal, announced through the senior vice president of cryptocurrencies that it is working on the issuance of its own stablecoin.

José Fernández da Ponte indicated that the platform is making all the necessary efforts to be able to advance in this sector, adding that he hopes to carry out different collaborations with regulatory entities.

“We are exploring a stablecoin. If we decide to move forward, we will of course work closely with the relevant regulators,” stressed da Ponte.

The company’s new bet was discovered by developer Steve Moser. When checking the PayPal application he discovered the logo of the new currency, just as he posted it on his Twitter account. Shortly afterwards the company confirmed his finding.

The stablecoin would bear the name of PayPal Coin and its value would maintain parity with that of the US dbollar.

K. Tovar

Source: Descifrado

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