PayPal confirms it's exploring the launch of its own stablecoin
that the online payment provider is"exploring a stablecoin." He also said that the company will work closely with relevant regulators"if and when [it] seek[s] to move forward."found hidden code and images for a"PayPal Coin" in the company's app and shared them with. Based on what he discovered, the PayPal Coin will be backed by the US dollar.
Stablecoins are cryptocurrencies backed by fiat currencies and are typically more, well, stable than their decentralized counterparts. Meta has big crypto plans, as well, and was supposed to launch a digital wallet that supports its own stablecoin called Diem. However, it faced pushback from regulators and launched the cryptocurrency walletAll products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links.
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