PayPal might be launching a stablecoin
First discovered by developer Steve Moser
To continue its push into crypto, PayPal is exploring the possibility of launching its own stablecoin.
A developer named Steve Moser found hidden code and images for a "PayPal Coin" in the source code of Paypal’s iPhone app. Based on everything he discovered, the PayPal Coin will be backed by the US dollar.
Jose Fernandez da Ponte, SVP of crypto and digital currencies at PayPal later confirmed Moser’s discovery to Bloomberg, stating, “We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators.”
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