PayPal Dive Deep Into The Crypto Market And Started Working To Launch Its Own Stablecoin

Some secret codes and images hidden inside PayPal's iOS app were discovered by developer Steve Moser. When these secret codes and pictures are examined, it shows that PayPal has started working on a cryptocurrency called PayPal Coin.


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Steve Moser shared the information he discovered in PayPal's iOS app Crypto Push with Bloomberg. Bloomberg spoke to PayPal Holdings Inc. regarding this matter with its authorities. PayPal Holdings Inc confirmed the news regarding PayPal Coin. PayPal is working and researching to launch its own stablecoin, PayPal Coin. Click for more and Bloomerk's news


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Jose Fernandez, senior vice president of crypto and digital currencies at PayPal, also told Ponte Bloomberg News that they are trying to discover a stablecoin and may work with relevant regulators in the future. The secret code and images show a study called “PayPal Coin” and also show that this cryptocurrency will be backed by the US dollar. In addition, a PayPal official on this subject said that the images and code inside the PayPal iOS application were caused by a recent internal hackathon. In addition, the PayPal official said that the PayPal Coin name and logo may change in the future.

PayPal started adopting cryptoassets last year and it was received very positively by the crypto markets. It looks like PayPal has more plans and studies on the crypto market. In short, PayPal is diving deep into the crypto market and doing more research.

I think giant companies like PayPal are doing similar work. Because, according to research conducted in the past months, it is known that many banks and payment companies forward their customers' intense demands regarding cryptocurrencies to the companies they work with. Therefore, giant companies that do not want to lose customers have to dive deep into the crypto markets. Why is PayPal one of the largest companies in the world? because they do not remain indifferent to innovative developments and do not ignore requests from customers.

In short, giant companies will have to adopt cryptocurrencies in the future whether they want to or not. The sooner they adopt, the more profitable it will be for them. I think especially giant payment companies will launch their own stablecoins, and some have even started work on it. These developments show that in the future more people will adopt cryptocurrencies and the crypto market will grow even more.

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