Is PayPal plannning to Launch of Own Stablecoin?

[TimeTeller]

Something tells me that this will be a terribly regulated stablecoin that will be blocked even worse than USDT. PayPal is notorious for blocking transactions they don't like, and given this fact, even more so:

“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,”

I won’t be surprised if this stablecoin can only be bought on their platform, having previously passed KYC.

It would be, they are going to make sure that everything goes according to the 'regulators' which is kinda sucks but thats paypal for you and they cant go against these 'regulators'. It could even be just the same as regular fiat just in the form of 'stablecoin' of their own version, there isnt that much information regarding this yet

I wonder what's next? Crypto exchange from Paypal, DEX, P2P exchange, DeFi protocol?

Imo, this would be lit. Imagine if paypal start offering this and then some other top company try to build this as well. It would push crypto adoption further somehow

This may possibly happen in the very near future. They already started integrating some top alts.
And now, creating their own stablecoin. So no surprise if they will create their own crypto exchange or p2p crypto exchange.
If they will see the market demand on this kind of service, high likely that they will explore this business.
Their advantage is that they already have millions of users. So attracting users to use their services won't be a hurdle to them.
But for crypto users in this forum, most of them will not patronize crypto from paypal, because a lot are worried about their privacy.

[perfect999]

Even they launch their coin, I will never going to invest in it since the policy, terms, and conditions of PayPal are too strict. You have to wait long for just a few bucks and show some documents to verify the payment.
Not only this, I've many friends who have already lost their money in PayPal, and I don't think they are going to lose their coins now.

Wouldn't you liked it? They are strict so it means that there are less frauds and more confidence. At the end of the day, what they are offering here is different from their previous product. It's a stable coin that can be transferred to our own wallet so no need to register on their platform.

Last time paypal announce that they support buying and selling bitcoin within their platform and they make that happen so I believe that this one is also going to happen and for facebook, is it confirmed that they fail? Maybe they just postponed the project for a while due to some reasons because I can still access their block explorer here > https://indiem.info/explorer.

[m2017]

For something like PayPal that has users across the world it might actually be good for the users depending on how it's implemented.

As of now if I a US user send money through PP to someone in another county there is an exchange fee from USD to whatever.
If they are using a satblecoin there would probably be no fee, *if* they do what they said with BTC and have no fee user to user transfers.
So instead of going fiat to fiat with a fee. Or BTC to BTC with no frr (but with BTC price fluctuation) people would be able to do stablecoin to stablecoin.

No why they don't use an existing one I have no idea.

-Dave

Your point of view is interesting and worth paying attention to. If people have to use PayPal one way or another, then why not do it in the most profitable and convenient way?  PP should not be discounted as it may be a good tool for some users. There is no good or bad tool, and maybe not the ability to use it.

Can continue to spit on the announcement of the PP, but you can see the opportunities in this (if there are any for you) and take advantage of them. This is a decision and choice for each individual.

I am in no way campaigning or supporting the PP, but just trying to look at the situation from different angles, thanks to the comments of users in this topic.

[coupable]

Although that Paypal is still centralized (especially their own stablecoin), I honestly believe that adopting it is still a positive move by them. For once, I think they are really against Bitcoin and crypto adoption, but it took an unexpecting turn last time when they are now introducing cryptocurrency deposits. We’ll just see the outcome of their own stablecoin though, as long it promotes cryptocurrency awareness.

That unexpecting movement has nothing related to crypto adoption for real. PayPal users can buy bitcoin through the system but can't transfer it outside of that system. The whole process is scriptural and no transactions will be recorded in the blockchain.
The step was made upon the whole world moves toward bitcoin and other currencies. So for not to blame itself for missing the wave, they added the bitcoin option to the system with a promise that withdrawal will be available sooner but i don't think to happen at expected dates.
Using a stable coin, either it's her own or another already existing one, looks realistic for a centralized company .