@Peter.Clark · Posted 02 Mar. 2022
@Jane.Martin · Updated 02 Mar. 2022
PayPal coin is aggressively looking for ways to make it easier for people to use cryptocurrencies and is planning to create its Stablecoin. The company is also reportedly considering making a move into crypto trading.
The company is reportedly in talks with regulators to introduce a new cryptocurrency that would be backed by fiat currencies.
@Rachael.Davis · Updated 02 Mar. 2022
PayPal is finally venturing into the world of cryptocurrencies. The company announced on Tuesday that it plans to launch its Stablecoin, which will be backed by traditional currencies such as the U.S. dollar, British pound, and euro.
The new coin will be called “Paxpa” and is expected to launch in 2020, according to PayPal CEO Dan Schulman. Paxpa will not have any transaction fees and will be based on an open-source blockchain platform called Stellar Lumens (XLM).
@Kelly.Jackson · Updated 02 Mar. 2022
The company has been working on developing its Stablecoin, which will be called “Pax”. Pax will be pegged to a basket of currencies, including the US dollar and other major currencies, as well as gold.