PayPal might issue its own cryptocurrency soon, says CoinShares exec

[7788bitcoin]

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.

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.

[Princejebs]

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.

[Shallow]

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.

[kidbounty]

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 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.

[Snappycoco]

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.

[jdnthny]

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.

[escalante28]

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.

[erikoy]

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?

[jrrsparkles]

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

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.

[unusualfacts30]

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.

[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.

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.

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

[20kevin20]

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.

Them integrating BTC into their system is not a rumor anymore, but real news. 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 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.

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 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.

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.

[imstillthebest]

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

[plr]

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

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.

[Fredomago]

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  .

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.

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 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.

[jessyj48]

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.

[wxa7115]

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

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.

[b1boy]

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

[tsaroz]

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.

[jacafbiz]

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