PayPal is thinking about launching its own stablecoin

03.05.2021 |

The world’s leading payment acceptance company is studying the possibility of launching its own cryptocurrency with physical collateral. Now we know about the ongoing negotiations with Ava Labs, which develops solutions based on the Avalanche distributed ledger technology. Whether the possibility of working with other companies and other technology stacks is being explored is not yet known.

According to the company, the payment giant is actively exploring the use of digital assets in its work and the need for changes to the current project infrastructure. Working in global markets, interacting with regulators of different countries, the company needs to keep up with the times to provide its clients with modern services that meet the demands of rapidly changing times.

At the same time, a number of experts talk about the possibility of issuing its own cryptocurrency PayPal on existing platforms. The stablecoin market is represented by a wide range of different solutions. Using a stable, working blockchain would help a financial company launch a new project faster, saving time and money.