Soon a stablecoin made by PayPal?
According to information published on May 3 by our colleagues at The Block, it seems that the online payments giant PayPal is exploring the possibility of launching its own stablecoin.
Indeed, 4 different sources have reportedly said that PayPal is in talks with various companies that are behind stablecoins in the ecosystem. Also according to them, PayPal would have met the teams of Ava Labs, the company behind the Avalanche blockchain.
Asked by our colleagues at TheBlock, the PayPal spokesperson neither denied nor confirmed this rumor:
“PayPal continues to explore the potential of digital currencies, digital financial infrastructures and seeks to find out how it can improve e-commerce by becoming a trusted partner in the ecosystem. "
Regulators always on top
PayPal's various contacts with companies in the industry suggest that the company would like to turn to a third party to realize or host its stablecoin. The company seems to want to avoid making the same mistake as Telegram or Facebook, by launching its own blockchain. The goal: not to attract the wrath of regulators around the world.
“It seems more likely that PayPal is partnering with an existing stablecoin issuer rather than designing it on its own, as this would allow them to reach the market faster and it would appear to be its main concern. "
A source close to the case
With more than 15 billion transactions completed in 2020, PayPal's entry into the world of stablecoins would be like a bomb and could be a major step forward in cryptocurrency adoption. Eh yes ! This would allow PayPal's 337 million users and merchant partners to join the ecosystem.https://2key.me/Icrypto-Latest-Blockchain-News-Media-Index-Bitcoin-Blockchain-News/brunoco/uEWwK