PayPal exploring Stablecoin opportunities to make a strong market presence in 2022!

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Payment gateway giant “PayPal” is geared up to explore Stablecoin opportunities and seek ways on how to use crypto as a payment medium. Stablecoins are basically digital assets that are backed and priced as per the value of an existing commodity or currency. To promote Decentralized payment the company is planning to launch its own Stablecoin.  



PayPal Stablecoins – Should you buy?

Global payment giant PayPal is planning to launch its own Stablecoin and is working on a private crypto asset that would be tossed to the US dollars. Be it worldwide development or Crypto development in Kolkata, these kinds of virtual assets come with certain potentials that attract the attention of crypto aspirants. A Stablecoin is blockchain-based electronic money that can be easily dashed onto fiat-based physical assets, reserve currencies, and gold as well.


Key takeaways on “PayPal’s Stablecoin” –

·         Coin launch confirmed by the tech giant

·         “PayPal coin” will be the name for the Stablecoin

·         PayPal coin to be supported by the US dollar

·        After its official launch the coin would be available on centralized exchanges

To buy or not to buy a PayPal coin can be a big question as there are not enough details that provide a solid foundation. However, the good thing, in this case, is that PayPal is a globally renowned and trusted name that has the potential to beat other payment gateway service providers with ease.  If the coin is launched successfully by PayPal then there will be a payment processing infrastructure on a global scale and will strengthen the existing retail relationships as well.


Will PayPal be successful with the initiative?

For possessing the potential of being used as a payment medium, PayPal has decided to launch Stablecoin which is blockchain-based virtual money that can be dashed onto the US dollar. PayPal might launch a coin named “PayPal coin” as part of its exploratory initiative with the token. The company already offers many cryptocurrencies that customers can buy. This initiative of PayPal is a strong initiative that will strengthen its position in the market against other service providers.


As of now, PayPal is the only payment gateway giant that will be launching the coin after Facebook launched Libra. However, Facebook did not taste success with Libra currency. But PayPal is positively moving ahead with the initiative to launch a Stablecoin which investors can buy as a PayPal coin. This initiative is a further push into the crypto ecosystem by PayPal. It can be predicted that after launch the coin will be available in the exchanges and might even provide liquidity for crypto investors.  


Wrapping up, before the company could launch its own Stablecoins, there are several regulatory frameworks and licenses that PayPal needs to acquire. According to the Best crypto development company, PayPal is not the first to provide such services in the crypto space, earlier there were other platforms that have developed their own Stablecoins for settling transactions.

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