Financial giant PayPal has confirmed that it is working on opportunities to issue its own stablecoin linked to the US dollar.
This information was presented by Bloomberg and then confirmed by the PayPal spokesman. In a statement sent by e-mail, the spokesman wrote, "We are examining stablecoin; if and when we strive to move forward, we will of course work closely with the relevant regulators. ”
The images and the code confirming the work on the stablecoin indicate that the project called "PayPal coin" would be related to the US dollar. They were created as part of a recent internal hackathon, during which engineers and developers discovered new solutions and development opportunities that will not necessarily be used in the future, said a PayPal spokesman.
PayPal is working hard to develop its digital asset services. The company offers US clients the opportunity to purchase Bitcoin , Ethereum , Litecoin and Bitcoin Cash cryptocurrencies. They can both buy, store and sell their digital assets, as well as pay for products and services with them. Recently, the company also confirmed that it is working on the possibility of withdrawing cryptocurrencies to external wallets.
In September last year, PayPal unveiled a new application that allows comprehensive handling of personal finances, ranging from extensive shopping functions, through the possibility of paying bills, as well as tools for investing and saving, including support for digital currencies.
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