Jan 12
PayPal may launch stable coin PayPal coins
Payment processor PayPal has been making inroads into the cryptocurrency market. In 2020, it has allowed people to buy and sell cryptocurrencies, but it is only available to Americans. The company is exploring options for creating a stablecoin, according to PayPal’s senior vice president of crypto and digital currencies Jose Fernandez da Ponte, in a statement to Bloomberg.
In general, stablecoins are more reliable than other digital currencies, because their value is tied to a reserve currency like the dollar or rupee. A stablecoin is a cryptocurrency whose value is tied to a commodity or currency that is more stable. Bitcoin, for example, could be worth $47,000 one week and roughly $42,000 the next; whereas stablecoins will still be the same the following week.
