The vice president of PayPal recently sold off. The pioneer of electronic payments is working on a new stablecoin that will allow its users to pay in crypto. While we thought PayPal was a little behind its competitors, the service explains that 2022 will be the year when cryptocurrencies will be fully integrated and regulated on the platform.
As is often the case with this kind of announcement, the French date for the launch of this stablecoin is not specified, because this implies important changes in the regulation.
A PayPal Coin pegged to the dollar
It was during a hackathon that a team delved into the source code of PayPal’s iOS application, and found the logo of a currency that does not yet exist. The PayPal Coin stablecoin will be indexed to the price of the dollar and will allow purchases to be made on the famous platform in the near future. For now, this corner remains a project, and PayPal spokespersons are careful not to mention a launch date for the general public.
The main reason PayPal hasn’t gotten into crypto payments yet is because of the many regulations the company faces. However, Jose Fernandez da Ponte, vice president of the company, indicates that the exit of a stablecoin named PayPal Coin is only a matter of months and that it will be done before the green light of the American regulator.
In August 2021, PayPal was already announcing that its US and UK customers could pay with the most popular cryptocurrencies , like Bitcoin and Ether . In France, these functions are still not accessible, but you can still buy cryptos on platforms like eToro through your PayPal account.