Payment giant PayPal plans to expand its presence in the crypto market and is rumored to be consideringthe ability to launch a stablecoin.
PayPal has already been in talks with severalstablecoin developers, including Ava Labs. The company has not yet officially confirmed the information, noting only that it is exploring the possibilities of digital currencies.
According to sources, the PayPal team is likely towill choose a stablecoin development partner, rather than create a new product on its own. This will help the service to offer a new service on the market as soon as possible.
Rumors about the possibility of integrating stablecoins into the PayPal payment service have been circulating for a long time. However, “considering the possibilities” does not yet indicate specific plans.
Meanwhile, PayPal continues to expand its rangeoffered crypto services. In March, the company allowed US users to pay for goods and services directly in cryptocurrency. Late last month, 70 million users of PayPal-owned mobile payments service Venmo began trading crypto.
On March 8, PayPal announced the completion of its acquisition of cryptographic security company and multilateral computing (MPC) startup Curv.
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