A big step is probably in the offing at PayPal. The payment service provider wants to enter the crypto market. Read here what this could mean for customers in the future.
PayPal wants to gain a foothold in the cryptocurrency space. After it is already possible in the USA and Great Britain to pay with Bitcoin via the payment service provider, there should also be a separate currency in the future. As reported by “Finanzen.net”, such references can already be found in the source code of the PayPal app. These show pictures and the name of a “PayPal Coin”.
In contrast to Bitcoin, this should be intended as a stable coin. This means that the cryptocurrency is linked to a reserve value such as gold or the US dollar. As a result, there are significantly fewer fluctuations in the price. PayPal customers could therefore better rely on the payment service provider’s coin not suddenly losing a lot of value.
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PayPal with cryptocurrency: still many unanswered questions
PayPal itself confirmed the information in the app’s source code. They are said to come from an internal competition that dealt with cryptocurrencies. Therefore, there could also be changes to the design or name. The question of whether the stablecoin will actually be launched in the end is also still open. PayPal intends to work closely with the relevant authorities in the future if a final product is found. With the cryptocurrency, PayPal would be one of the first companies to use this system purely for payment.
So it is still open how the plans will be worked on internally. As soon as there is news about the PayPal Coin, we will add it here.
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