Bitcoin Forum

Global digital payment giant PayPal might be moving into issuing its own cryptocurrency after officially entering the crypto industry, according to a major industry exec.

https://cointelegraph.com/news/paypal-might-issue-its-own-cryptocurrency-soon-says-coinshares-exec

It's already part of the idea that they have adopted crypto.

Although it's still unknown until they've fully announced that they will be launching their own crypto soon. They see the idea as an effective additional source of profit for them and a market which they can build easily.

On top of that, we have to wait until it comes from them.

Well after their announcement we will expect more big moves or action coming for this giant company Paypal. There are also rumors where they are going to buy one of the existing cryptocurrency. exchange right now. I am not sure if it's true but they said it is Bittrex. As we all know Bittrex has belonged to the top exchange also.

They better focus on providing normal cryptocurrency purchase instead giving people a way ti buy crypto and then they can't transfer it anywhere. For me if I can't transfer my crypto from PayPal, then it's not my crypto. As simple as that.

If they issue their own altcoin, hope it has more functionality then just buy, sell and hold. Hope it will have an option to be send to other paypal users. Otherwise what is the purpose of it? They will already have such "cryptocurrency with cut functionality" called Bitcoin.

This new altcoin will also be useless because paypal being centralized. Who need this "their own cryptocurrency" when there exchange with their own token in 2018 already?

Funny how only yesterday I had a little "chat" on another topic talking specifically about this PayPalCoin thing.

So that's probably why they wanted to get into the crypto business:
  1. They realized Bitcoin cannot be defeated
  2. It's the only way they can manipulate markets and crypto enthusiasts
  3. It allows them to launch their own cryptocurrency in order to multiply their earnings

Next thing I wonder is if they will be letting PayPal users purchase Bitcoin as in BTC or a coin launched on their own centralized blockchain, supposed to be "backed up in BTC" (like Binance's version). I highly suspect it's the latter, for "instant txs Bitcoin can't do". :)

PayPal should be aware of the process and how the cryptocurrency industry works. I'm certain that any cryptocurrency that comes from them would have a use case and the potential to be in huge demand.

I'm personally glad because more great companies are getting aware of the cryptocurrency industry and are willing to come to the space. This is contributing to the mass adoption of cryptocurrency which we look forward to.

It will just become another Ripple a centralized token, Paypal is a company that wants to control everything they get heir hands into they just integrate Cryptocurrency in their platform because they know that Cryptocurrency is the future, and they do not want to be left behind, although they can create their own token or coin but I'm 100% it will be centralized.

Not really surprising if they will create their own coin. They are more than capable to make one. This will be another source of income. Better than those pump and dump coins. At least, their coin has actual usage in ecommerce. We will be expecting more companies to follow their path and that will benefit the crypto community.

Cant even imagine what use case could paypals altcoin have. Reduce fees? But they are dependable from your account. For example I have 0 withdrawal fees, but my friends from Russia complain about high fees. Exchange rates are questionable, but I have strong doubts they can be influenced by paypals tokens. Speculative asset comes to my mind, but cryptocurrency market have such assets in excess.

I will refer this to be more of speculation because is as not yet been approved,we are just hopeful about it. PayPal is not new in the cryptocurrency world so it has the capacity of having its own coin, although if they will have their own coin, it will have a special advantage of making quick exchange.we are not in position to make the announcement for them, when they do I will support at my capacity. Paypal is serving us well, it worth supporting.

I think it was a part of a bigger plan, that after accepting cryptocurrencies in their payment service, Paypal's next focus is to create its own cryptocurrency and probably in a form of Stablecoin, but I'm not sure about it. if Paypal really wants to create its own cryptocurrency I'm sure it will be published in all major crypto media outlets because Paypal is a popular brand, But until there is no accurate information regarding that possibilities it is better to wait for the official announcement if Paypal really wants to have/create its own cryptocurrency or not.   

There's a possibility that it will materialize because they have assets to backed the stable that they are going to launch, and this is just the first step to adopt Cryptocurrency to become of their top player in the market, that possibility will give mileage to Paypal because they are a very popular online company.

Using its position in the digital payments market, it will be easier for PayPal to promote its cryptocurrency on exchanges and thus get several billion dollars in investment. Thus, this analog of the digital dollar in terms of capitalization can be compared with the most popular stablecoins.

Do you think it will give negative feedback to Paypal? I think they should be more focused on giving service like coinbase did and coinbase is one of the top crypto wallets company but still they didn't issue their own cryptocurrency yet. Paypal is already a billion dollars industry why they need to raise funds by issuing their own token!

I've been hearing the news all around the social media and crypto news I think this is a great step for some known digital payment to accept cryptocurrency now more people will be aware what is cryptocurrency and how this works it's also good for us cryptocurrency user that a digital payment like this are accepting cryptocurrency and allowing to pay merchants cryptocurrency as well.

to the surprise of no one  ::) one of the many reasons why they're now jumping into the Bitcoin bandwagon is to attract people into cryptocurrencies so that they can get familiar to the whole concept behind them before the company fully launches their own crypto along side an entire ecosystem surrounding it (debit card, exchange, etc)

There have been rumours for a long time that not only Paypal but also Neteller, Skrill and some other payment processors are keen on joining the cryptocurrency hype train. Looks like centralized cryptos could be the next big thing in this space, not sure if that's good or not, though...

The hardest part is still the regulation in US, which make Libra of Facebook can not issue their own cryptocurrency, so I will wait and see how Paypal will handle it. If it succeeds then chances are it will be key to the market's bull run next year.

This is possible to happen even if they don't announce it yet . they will take that also as one of thier advantage if they have their own coins having an option to buy bitcoin in their  platform mean they are already open to have this new tech to Use . I will not be surprised if one day they buy us base exchange and that news will add more demand in crypto.

Yes, let not forget what actually happened to Libra project: though they are still developing but deviated from their initial road map. The regulation will definitely affect the PayPal company if they eventually venture into creation of their own cryptocurrency, though this might take another tune becasue of them be a huge platform compared to Facebook.

Basically trying to make fortune out of crypto which they despise in the past (well not exactly despising but they are so strict against crypto transaction made within their platform). I could guess that they gonna create another stablecoin which they have fully control to and profit off the fee for transaction. not that it's a bad thing. atleast it gives crypto more fame.

It would be nice for PayPal to release its own cryptocurrency, which would play the role of its own digital shares, and then PayPal's spectrum of support would be significantly expanded even to the cryptocurrency market. After all, the Pay Pal digital share would become one of the most valuable assets in the cryptocurrency market. In addition, PayPal one way or another provides a large number of services for users to transfer funds, and they only need to be allowed to make transactions using the highest rated cryptocurrencies, without the need to create their own coin to make money transfers.

They should since they are capable, they have assets to back up their claims and their token, they have millions of merchants, they can push the Cryptocurrency to a greater heights, the only issue is they might encounter problem with the regulatory commission just like what happen to Libra, they should weigh their option, they are a big company coming in the Cryptocurrency.

Will it also be listed on the exchanges like binance?
I have the feeling that it won't but will just be for their own platform because PayPal was also planning to buy an existing exchange. I have also read this information from Twitter. Paypal's token will likely have a use case on their platform only.



The regulators actually realize that there is a need for companies to create coins when cryptocurrency or blockchain will be adopted in every possible way.  The regulators now are seeing that what Facebook did is where the future will be.

I am not sure why a paypal coin is need or what will be the purpose of such a coin other than paypal extracting big funds by selling their own coin. This may be the plan, I hope it will suite the paypal's payment ecosystem and also bring profits to investors.

They might be willing to issue their own crypto coins on their blockchain network and its main usage will be that 340 million active user of this giant payment processor will be able send coins to each other as mode of payment which can be again converted to fiat or any other coin backed by it.But there will be no such effective use of this centralised network crypto other than making huge profits by the PayPal only.They see crypto as fast growing market with high returns in short time and blockchain being the future technology of making payments so they are just upgrading themselves with market trend so as to keep the interest of the customers and achieving their own goal.

Mate i equally see this publish and have a second thought, about them having their own cryptocurrency becasue of this move they have done in this industry, PayPal has been into investment space and has gathered momentum from big fan of it. For them adopting the cryptocurrency and in particular Bitcoin shows that they will eventually come up with something like, they will create their own coin someday to come.

There's a need for improvement for them and maybe they see how crypto can response on that, and can help them, maybe now they give additional fame for crypto but soon they will use it for their advantage to create their own coin. It's indeed a good plan if their coin will be really useful for their customers and not just what other projects coin that are only used in trading mostly.

another great news from paypal to bring this crypto space to the higher level, this news bring a good impact to bitcoin price
i hope altcoins will follow the movements on bitcoin as soon as possible

Libra tried to create its own currency, and they failed because it was against US regulations on currency issuance. I think Paypal will not create their cryptocurrency because the offer of money transfers related to Bitcoin and other cryptocurrencies guarantees them a good return.

Any news of big actors adopting Cryptos is a great news for all of us!

Paypal is only the first ones, in the future there will come much more actors to the movie!

From being against crypto to accepting crypto and to having their own cryptocurrency, i would say PayPal has really become bullish with the cryptocurrency ecosystem, the fact that they have come out openly to confirm their interest to integrate btc in their payment system is a big step and has really put crypto in the limelight, i think just because of this act, many big companies will start looking towards crypto direction.

Yes. There are high chances, PayPal is entering this crypto market with its own currency. As it has already announced the buying and selling of cryptocurrencies from its platform, I think it is necessary to have its own coin to process these transactions and to accumulate more fees.

If the source of this news is an executive from a coin development company then definitely it would be true because paypal must have contacted them for the creation of their coin. I will support all these steps by paypal to stay with the current trend which is crypto and im hopeful this will bring loads of new money and interest into the crypto market.

Paypal creating their own digital currency is expected since they claimed to have been examining the potential of digital currencies sometime now through the act of partnerships with some licensed and regulated cryptocurrency settings and with some central banks around the world.

Paypal wouldn't really have a big advantage over having their own coins, it would create some capital obviously but that wouldn't really be something used all that much, and it would be too much pain to control it forever due to regulation and law reasons.

You can't just be a regular huge billions of dollars worth of company and create your own token and get money from other people for it and be done with it, the legal side of things would not be a huge thing only (it will be) but it would be constant as well hence why it is problematic. Do you think they could make something like that for more money right now when they could do none of that and still make a lot of money in the long run even more? I would say small and safe for longer in order to gain more is a better method.

The regulation part of facebook's Libra almost killed all the momentum it had gathered. PayPal is an American company too so unless they move to a more crypto-friendly land, I think the same thing will happen to Paypal (If they decide to create their digital assets).

The article says that they are going to  make a digital currency similar to digital dollar. I doubt it is going to be anything like crypto currencies. Probably some blockchain based (completely centralized) currency, but not a crypto currency.
Even if they do make a crypto currency, highly likely it is going to be something like a stable coin whose value is pegged to the value of fiat US or any other currency they deem fit. Though this sucks that you can't transfer (or probably receive) bitcoins to your wallet, but at least you can make purchases using your bitcoin from any merchant that accepts bitcoin.

Thanks for sharing but the news about paypal building their own coin is still under maybe, probably a year later so I'm fine with it, my interest is on paypal implementing bitcoin and other altcoins, I don't care if they have their own coin, moreover it sounds like a stable coin, we shall see what happens

This is not officially announced so I'm guessing this is just a random thought from the writer, to me PayPal don't need a private coin or token since they are payment solution, having support for many crypto coins probably top 5 coins is more than enough, look at coinbase, why can't coinbase have its own stablecoin? It makes no difference

Now we might see more companies coming up with their private cryptocurrency and that is what i expected a couple of years and PayPal was providing virtual bitcoin and if you are not able to withdraw your coins i really do not see them as a valued asset but since the company can be trusted they will not run away with the money, so there is a minimum guarantee and they should provide their own coin rather than virtual bitcoin.

If this is turned out to be true, I will laugh so hard, they have label cryptocurrency so many times but now it turn out they see the potential and value crypto has created over the years.
On second thought, this might end up like Libra. If Libra couldn't issue a stable currency, how will PayPal convince regulated bodies and EU to issue digital currency?
This is dead on arrival but anything is possible if this is real adoption we have been waiting for.

It really keeps getting interesting with PayPal, first they adopted crypto and now they have seen how Innovative it is, they now want to issue their own or are already thinking about it, I think i won't be wrong for saying they have it all planned out.
Nevertheless, it is a very good news for everyone and it will send a lot of messages to others who are still doubting  what crypto offers as well as if crypto will actually survive in the near future. Another good advantage this will afford PayPal is, owing to the fact they have their own payment system with large users, now by using crypto, they will be able to access more users  hence growing even more.

this is good news as well as bad news. if paypal is serious about making their own crypto, it will be a new force for the crypto market. and I'm sure their coin will be popular as soon as they launch it. but this is also bad news because I'm sure even if they say it is crypto there will be no decentralization. Their coins will be centralized completely regulated by PayPal with the addition of blockchain.

Its getting better and better everyday. First thry come up with accepting cryptocurrency and now they are creating one. What a nice move from a giant company like PayPal.

It would be huge to paypal if ever this will happen knowing how popular paypal already. If that will happen many opportunies will open to the cryptocurrencies and most probably cryptos will be acknowledge by all the people in the entire world most especially people whose using paypal. It is very interesting news and event if ever this happen.

I think this is a sign that Paypal is going to launch its own digital currency in the next months or could be early next year. If this happens it wouldn't be a surprise anymore. Toyota already announced that they will launch its own digital currency. So if Toyota will do no wonder Paypal will do also. And this is a great action from Paypal then.

That would be a good news of course since paypal is very known as payment scheme but what it could it be like of their coins? Could it be centralized and or stable coin? Since payment is one of their business and this is what I think or it could also mean that they will going to act as an escrow. Well, whatever the platform they wanted to be for sure it going to get lots of investors that if they wish to allow or share their profits to others through investing in their coins. hmm what could be your thoughts?

Paypal already allowed crypto payments so there is no wonder if they create a token or coin for themselves but there will be no difference in using fiat money and crypto money in your paypal account.

They already announced their partnership with bitcoin but this news doesn't seem to be of any value to investors. It seems more of a rumor than anything else. If they left libra foundation, I don't see them creating new token based on paypal. It won't serve any purpose since they can just use another other already built tokens for whatever service they are provide which is mostly buy/sell orders. This way they can ignore the scrutiny that comes with price performance of cryptocurrency. If their token doesn't perform well, it will directly affect their business. whereas, if they just use btc,eth, or other crypto they won't have to carry that burden.

Just like JP Morgan chase, they've just launched their JPM coin after the controversial bad calls for bitcoin. But it's much better if PayPal wouldn't do that and just stick to the adoption of chosen cryptocurrencies into their platform.

For the reference of JPM coin: https://www.coindesk.com/jpmorgans-jpm-coin-is-live-exec-says
                                            https://www.coindesk.com/jpm-coin-bitcoin-defi-dbs

Them integrating BTC into their system is not a rumor anymore, but real news (http://). About how valuable this is, it seems like it's mostly subjective. Some users want it, some don't and some are neutral to it.

I suspect they'll use a PayPalCoin with a Bitcoin clone that'll work on PPC's chain, in order to make everything almost instant. This would be very bad news for BTC and hopefully it's not what they're truly planning, but it's what I highly suspect especially since they're most likely not going to allow Bitcoin withdrawals, on-chain txs and a BTC tx takes hours/days for many to be confirmed.

They'd rather have their own coin than use an already-existing one. The reason is simple: it'd be centralized, so they'd have power over it. Much better to handle the wheel by yourself.

If CoinShares' CEO is right, it'll be a stablecoin so there aren't many ways it could fail. PayPal is one of the largest corporations and, as I mentioned in earlier replies of mine, probably already has a good idea of how the upcoming crypto regulations around the world will look like. They chose a much better strategy to enter the crypto world than Zucc did.

first is the adoption of crypto then next creating a crypto ? wow paypal is really in it . i thought they are not willing and are only being forced to accept crypto on thier platform but showing a news like this removes my doubt  .

 creating a stable coin can be perfect for them aside from the unstable crypto because paypal represents stability . paypal money is already stable but this cant be traded directly on crypto markets . paypal is getting interesting nowadays eh ? they are tickling the taste buds of the masses

They have the means being the number one and with millions of merchants attached to them they have no problem with adoption, that is if they pass the regulators, we all know what happened to Libra Coin, they might suffer the same fate, but maybe things will be different by then, they need to rool out the Cryptocurrency feature of their platform first.

The move of adopting bitcoin really bring a huge impact to the entire crypto market, now that they are also planning to go ahead and create their own crypto, that's really an interesting news.

We all knew how big this company and they already a well established business, entering crypto market and represent centralized coin means really development.

They know how to take care of their business, with such plan more people will be more interested
with crypto, investment will be open for non crypto lovers as PayPal will be their tool to ride with
the industry.

They might, but to get enough adoptions the coin must be available on every single crypto exchanges too for trading unless the coin will be a stable currency?, I don't see any reason why paypal would need it's own digital currency, CBDC is already on the way, another reason why Paypal don't need it's own digital currency.

But the question is will governments let them? Do you remember what happened to Libra? Regulators saw what Facebook was doing and immediately put a stop at it, this is why bitcoin is decentralized, governments are really good at destroying other centralized institutions including other governments, but when it comes to something decentralized like torrents or bitcoin they know they can do nothing.

So I think any plans PayPal may have of creating a cryptocurrency will have a very strong opposition which will eventually seal their fate as PayPal knows that over the long term they will be unable to compete against bitcoin as it gets more popular.

I think since they adopted crypto currency there has always been rumors about them creating their own currency which i think is cool btw and would actually help boost the crypto currency world... so i think its just a matter of time before they announce it and we would see where we go from there... good news tho

It would make it easier for them to deal with cryptocurrency and maybe evade some taxes. Corporates are attracted towards blockchain based coins as they fear of missing out and losing their market. But not only are they efficient for the corporates, it would also make it lot easier for users and advertisers. More efficiency and more competition would come back as a value to users.

Paypal could issue their own token, I have no issue about it, but I think will likely be a security token because for now they have no product just exploring he space and the main question will be will it be tradable on exchanges like Binance, if yes then it would bring alot of new money to the space

I do not really think this is on the cards for now, the executives of PayPal are smart, they can see what happened to Libra and they are going to wonder if that is going to happen to them as well and most likely they can figure out the answer to that is a big yes, so unless they have better connections than Facebook, something that I doubt, then they are not going to be able to do something like this.

However this should not detract from our happiness that from now on you will be able to deal with cryptocurrencies directly with PayPal as it was not long ago they had a complete prohibition for this and anyone found doing business with cryptocurrencies found their account banned.

Probably the kind of stablecoin since these kind of big companies aren't really intersted on making profit based on volatility. I do agree that Paypal as of now is still just trying to explore and see if there's any potential in it. Whether the answer is yes or not we'll find out when they invest more into their crypto project.

If paypal is really making their own coin, I think this is a very good thing because it will create a huge mass adoption, and make the crypto marketcap even bigger.

I wonder what kind of function can they create for their token. Adding well-known cryptocurrency can add appeal to their platform. I hope they can provide better security if ever they are planning to integrate crypto, since there are a lot of people who's credit card is being used Paypal due to their linient security system.

They haven't officially said anything yet but they may launch their own crypto soon. Already Paypal declared that paypal users from now can buy, sell, hold 4 cryptocurrencies (Bitcoin, Ethereum, Litecoin and Bitcoincash). It is a great step and good news also for the crypto lovers. Other payment methods will think about crypto adaption from now as their leader Paypal already done it. So what Paypal has done will open a new dimension in the cryptocurrency sector.

And this will when Paypal is really one of the giants when it comes to this field, I am envisioning paypal having its own token and I think its value could completely be in the top 10, that's just is my humble mindset, looking at the amount of online payments you will understand why this will be the start of a huge boom from this market.

although like that I think there is still no guarantee that what you say is true, because to make the price of a coin enter the top 10 it has a lot of money and of course it must have a project that can be used by many people so that it will increase usage and will make the coin into the top 10.

If this will happen, then it will be good for the entire cryptocurrency sphere, and in general it will bring a huge amount of money to PayPal itself and PayPal will get even more popularity, so I hope that PayPal is really going to create its own cryptocurrency, and I am sure that this cryptocurrency will have huge demand.

The question is what will be the purpose of those tokens they already have their own currency in PayPal having theses tokens will make it difficult to choose what they will use the tokens or the main currency in the platform . They to make it usable not only for their platform but for the people that also looking forward to what kind of development they can do in that token.

Soon, more gigantic companies and payment systems will also get and use their own cryptocurrencies, and deal with Bitcoin as well. The world has been changing very rapidly. And these changes speed is growing all the time. All need to be ready for it.