After authorizing payment via cryptocurrency on the platform since 2020, PayPal is now considering launching its cryptocurrency.
According to Bloomberg, iPhone app developerSteve Moser has spotted secret codes and images regarding a”PayPal Coin” pegged to the US dollar.
PayPal has responded to these rumors by confirming that the images found came from an internal creative project and may not necessarily result in a public release. However, the following PayPal admitted that their engineers would consider such an idea.
“I don’t think we’ve yet seen a stable coin that works well for payments,” Jose Fernandez da Ponte, senior vice president of cryptocurrencies and digital currencies at PayPal, told Bloomberg. “We are exploring a stable coin; if and when we try to move forward, we will, of course, work closely with the relevant regulators.” PayPal currently supports four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Time will tell if a personal one will be added.