PayPal Explores Launch of Own Stablecoin in Crypto Push
"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, senior vice president of crypto and digital currencies at PayPal, said in a statement to Bloomberg News. Stablecoins are cryptocurrencies backed and priced by the value of an existing currency or commodity.
"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, senior vice president of crypto and digital currencies at PayPal, said in a statement to Bloomberg News. Stablecoins are cryptocurrencies backed and priced by the value of an existing currency or commodity.