Paypal Will Launch Its Own Cryptocurrency

Payments giant Paypal will launch its own cryptocurrency. Paypal continues to work to issue a stablecoin with stable value.

PayPal, one of the world's leading payment giants, has announced that it has started working to launch a stablecoin. Jose Fernandez da Ponte, PayPal's Senior Vice President of crypto and digital currencies, told Bloomberg. Ponte said the company is serious about its plans, although the payments giant has no concrete plans for actual implementation. PayPal is trying to get more involved in the cryptocurrency industry. Jose Fernandez da Ponte, PayPal's Senior Vice President of crypto and digital currencies, said: "We are working on a stable coin. Of course we will work closely with the relevant regulators." Jose Fernandez also confirmed the Ponte payments giant's claims that the name for its stablecoin will be "PayPal Coin". It should be noted that the development of PayPal's own stablecoin offers many advantages for PayPal.