PayPal Coin: this would be the cryptocurrency that PayPal prepares

The company is seriously exploring this possibility, and there is already even a hypothetical name and logo.

The cryptocurrency market is no longer an experiment to become a reality, setting the historical record Bitcoin a few months ago and, although this market is very volatile, it also allows investors who are lucky to know to earn a lot of money. Invest in the right currencies.

One of the most important payment platforms of the moment, PayPal, does not want to be left behind when it comes to cryptocurrencies and is working on its own stable digital currency (stablecoin), information that brings the US company much closer to a market that does not stop growing.

However, it is not a rumor, but Paypal itself has confirmed Bloomberg who are exploring launching their own stablecoin as part of their push to crypto.

The original evidence came from data extracted from the latest version of the Paypal application for iOS by developer Steve Moser. However, not only the name appears in the code but also a hidden image that shows the hypothetical logo you could have this currency that would be backed by the US dollar.

“We are exploring a stable currency; if we seek to move forward, and when we do, of course we will work closely with the relevant regulators”Confirms José Fernández da Ponte, PayPal’s senior vice president of cryptocurrencies and digital currencies to Bloomberg.

It should be clarified that the image of the logo and the code where this information comes from within the application for iOS comes from a hackathon of the internal team.

Hackathons are events in which company engineers quickly explore and create new products, products that are even analyzed but it is not certain that they will end up appearing on the market.

This means, and taking into account the words of PayPal, that this possibility is being explored but that it is far from assured that we will have a PayPal Coin, At least in the short term. If it goes on the market, the name, the logo and even the focus are likely to change diametrically compared to the one leaked right now.