PayPal Explores The Launch Of A Stablecoin, Sources Say

PayPal has been making a lot of headlines these days due to their support of cryptos and boost for Bitcoin adoption.

Not too long ago, we were reporting that Yahoo Finance dropped an article that says the fact that crypto just went mainstream.

“Starting today, PayPal users in the US can link their accounts to Coinbase to make it easier to buy digital currencies like Bitcoin, Ethereum and Litecoin,” the notes read.

Now, PayPal is in the spotlight again. Check out the latest news below.

PayPal explores the launch of a stablecoin

According to the latest reports from The Block, PayPal is exploring the launch of a stablecoin.

The online publication notes that four sources with knowledge of the situation told The Block that PayPal has been checking out some of the industry’s stablecoin protocol developers – this suggests the fact that the payments giant may be leaning towards working with a third-party company.

The same online publication mentioned above notes that Ava Labs, the team behind the Avalanche blockchain, is one of the organizations that has held talks with PayPal over stablecoin development, according to some reliable sources who are familiar with the matter.

It is not clear which other protocols have been involved in the discussions.

A PayPal spokesperson told The Block that “PayPal continues to explore the potential of digital currencies, digital financial services infrastructure and how we can help enhance digital commerce as a trusted partner in the space.”

The person continued and said: ‘As a global company working with regulators and industry partners throughout the world to shape the next generation of financial systems, the company is in frequent conversation about technologies that enable these goals. However, rumors and speculation are not predictive of the company’s future plans.’

Check out the original article posted by The Block in order to learn more available details about the issue.

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