General

Is Paypal working to introduce Stablecoin to popularize crypto payments?   


Peter Clark
@Peter.Clark · Posted 02 Mar. 2022


Jane Martin
@Jane.Martin · Updated 02 Mar. 2022

Paypal has been working on a Stablecoin to popularize crypto PayPal payments. The company is expected to announce the launch of its coin soon.

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
@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).

Schulman reports that Paxpa has been designed to solve the problem of volatility in crypto markets, which makes crypto payments difficult for merchants.


Kelly Jackson 
@Kelly.Jackson · Updated 02 Mar. 2022

PayPal is a global e-commerce business that provides online payments solutions in more than 200 countries and regions. It is the largest company of its kind in the world.

In an effort to popularize crypto payments, PayPal has been working on introducing Stablecoins to its platform.

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.


Please login to add your answer