The Block reported last May that PayPal was holding exploratory conversations about a stablecoin.
PayPal has confirmed that it is"exploring" a stablecoin backed by US dollars.on this process last May. At the time, The Block's sources said that the payments giant was holding talks with third-party startups in the crypto space as part of this process.
A spokesperson had said that the firm was exploring applications of digital currency as part of its offerings but"rumors and speculation are not predictive of the company’s future plans."reported that code embedded in PayPal's iOS app highlighted a so-called"PayPal Coin" that included its own logo. A representative told the outlet that this code was developed during an internal hackathon.
“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,” Jose Fernandez da Ponte, PayPal's SVP on digital currency issues, told Bloomberg.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Venmo, Paypal and Zelle must report $600+ transactions to IRSAs of Jan. 1, mobile payment apps like Venmo, Paypal, Zelle and Cash App are required to report commercial transactions totaling more than $600 per year to the
Read more »
PayPal 'Exploring' Own Stablecoin CryptocurrencyThe development of an in-house stablecoin was discovered in the source code of Paypal's iPhone app.
Read more »
PayPal confirms it's exploring the launch of its own stablecoin | EngadgetIt might be called 'PayPal Coin,' and it will reportedly be backed by the US dollar..
Read more »
PayPal reportedly confirms plans to explore the launch of a stablecoinA PayPal spokesperson clarified that the source codes of the iPhone application were developed in a recent hackathon.
Read more »
BBB warns consumers of hackers posing as apps like PayPal and Venmo to steal your moneyScammers are trying to impersonate these apps and trick you into giving them access to your bank account.
Read more »