Cryptocurrencies are here to stay and PayPal knows it. In fact, just as PayPal already has chat, wallets and crypto, they now work on PayPal Coin, their own stable cryptocurrency . Keep in mind that PayPal Coin will come in handy as cryptocurrencies are quite unstable, however PayPal Crypto will be pegged to the dollar price.
PayPal Coin, the stable cryptocurrency with which you can pay
Currently, Paypal is one of the most popular and important payment platforms . Still, PayPal has lost some users because it’s taking money from accounts that don’t follow its Usage Policies. In any case, this payment platform continues to create new functions and features to provide the services that the market needs.
PayPal working on its own stablecoin means that more and more people are using crypto. On the other hand, although it started as a rumor, the payment platform has confirmed that they are working on PayPal Coin .
Keep in mind that the rumor about PayPal Coin started because a developer mined data from the latest PayPal app update for iOS and found multiple information about this cryptocurrency. In fact, the developer Steve Moser was the one who extracted the code from the PayPal app and found in it an image with the possible PayPal Coin logo.
Subsequently, the rumors caused such a stir that PayPal had to speak out and confirm that they were creating their own stable cryptocurrency . Likewise, from PayPal they have explained that although they seek to advance with the creation of their crypto, they will work in accordance with the cryptocurrency regulatory institutions.
You should know that Steve Moser is a PayPal developer and when he found the data about PayPal Coin he was participating in an event with his co-workers. Keep in mind that these kinds of events where PayPal developers compete to find and develop new features are a common occurrence at the company.
Also, features developed at these PayPal events don’t always make it to market, so PayPal Coin may never come out, or at least not soon . Either way, PayPal Coin can be an interesting product.
Source | The Tape Drive