PayPal Holdings, the American fintech company , has confirmed its intention to launch its own stable currency, called PayPal Coin. The development of a native stablecoin was originally discovered by Steve Moser in the source code of the PayPal application for the iPhone.
While PayPal's digital assets are in progress, the currency's name, logo, and features may change before launch. To support current development, PayPal has launched new features in the past that allow users to buy, own and pay with digital assets.
In an interview in November 2021, da Ponte, the vice president, said that PayPal had not yet found a stable currency for payments . According to him, a stable currency must be able to scale the payment system, while ensuring network security. He added:
There needs to be clarity on the regulation, the regulatory frameworks and the types of licenses needed in this space.
In addition to launching its own stable currency, PayPal has taken other active steps to spread crypto services to territories outside the United States .
In September 2021, the company announced the launch of new BTC trading services on the UK market. According to PayPal representatives, customers can trade important cryptocurrencies, such as Bitcoin, Ethereum, Litecoin or Bitcoin Cash.
