Thursday , 13 June 2024
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PayPal wants to launch its own cryptocurrency

As is often the case with such announcements, the French date of the launch of this stablecoin was not specified, as it involves significant changes in regulations.

A dollar-pegged PayPal Coin

During a hackathon, a team searched the source code of PayPal’s iOS app and found the logo of a currency that doesn’t exist yet. The PayPal Coin stablecoin will be indexed to the price of the dollar and will allow shopping on the famous platform in the near future. For now, this column remains a project, and PayPal spokespersons are careful not to mention a launch date for the general public.

The main reason PayPal hasn’t fully started crypto payments yet is because of the many regulations the company is facing. Still, the company’s vice president, Jose Fernandez da Ponte, says that a stablecoin called PayPal Coin is only a few months away and will come before the green light from the US regulator.

In August 2021, PayPal was announcing that its customers in the US and UK would be able to pay with the most popular cryptocurrencies such as Bitcoin and Ether. These functions are still not accessible in France, but you can still buy crypto on platforms like eToro via your PayPal account.

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