Asset-Backed

American fintech giant PayPal Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser. Confirming the evidence found on the PayPal app, Jose Fernandez da Ponte, PayPal’s SVP of crypto and digital currencies, told Bloomberg News: “We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators.” PayPal Coin logo found inside of PayPal app. Source: PayPal iPhone app Moser’s finding uncovered that PayPal is in the works of building PayPal Coin, which will be backed by the United States dollar. However, a PayPal spokesperson clarified that the source codes of the iPhone...