PayPal might issue its own cryptocurrency soon, says CoinShares exec

[Anarchy101]

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

[jossiel]

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.

[darkphoenix2610]

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.

[slackovic]

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.

[bakasabo]

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?

[20kevin20]

In fact, maybe that's exactly what they plan to do: accumulate as many crypto enthusiasts as possible, and then come up with your own coin.

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".

[Godwinpaul]

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?

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.

[aioc]

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?

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.

[Twinkledoe]

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.

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.

[bakasabo]

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?

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.

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.

[TIDOVEE]

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.

[masterrex]

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.   

[Quintrix]

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.

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.

[tvplus006]

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.

[laredo7mm]

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.   

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!

[pungopete468]

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.

[tomahawk9]

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...

[yangongear]

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.

[Rodeo02]

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

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.

[XCANA]

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.

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.