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PayPal is launching its own Stablecoin

PayPal is launching its own Stablecoin

PayPal is ultimately started to join the crypto world to discover its launch of Stablecoin. Stablecoins, as the name implies, are intended for price stability. This is achievable because they are linked to an external fiat currencies.
That is why PayPal intends to launch its own Stablecoin. That is to say, unlike many cryptocurrencies, that are price volatile, Stablecoin remains a very stable choice.

What assets does PayPal aim to use as collateral?

As stated by the company, the assets supporting Stablecoin can be:

• A fiat currency, such as USD or EUR
• obviously, a cryptocurrency, such as ETH
• Also precious metals, and real estate

“In early January, PayPal revealed that it is considering launching its own Stablecoin,” said Adam Nasli, chief analyst at BrokerChooser. In the last years, PayPal has suggested more services about digital currencies, like purchasing and selling digital currencies. We have also seen examples of discovering stablecoin by technology companies. For instance, Facebook (Meta)’s sponsored stablecoin, named Libra / Diem, failed, and Facebook will sell all its Libra / Diem assets to Silvergate Capital Corporation.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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