May 15, 2021

PayPal plans to launch its stablecoin on the blockchain

PayPal plans to launch its stablecoin on the blockchain

PayPal plans to release its own stablecoin, writes The Block, citing four acquaintances with source situation.

According to sources, PayPal is in talkswith several organizations about issuing a stablecoin. Ava Labs, the developer of the Avalanche blockchain, became one of the organizations that negotiated with PayPal.

A PayPal spokesperson told The Block that "PayPal continues to explore the potential of digital currencies, digital financial services infrastructure and how we can help in this area."

“As a global company working withWith regulators and partners around the world to shape the next generation of financial systems, PayPal often discusses new technologies. However, rumors and assumptions do not speak about the future plans of the company "- said the representative of the company.

“They are more likely to implement this project with an existing partner in the market than to develop something themselves. This will help bring the product to market faster. "One of the sources told The Block.

Last fall, PayPal launched a service for buying and selling cryptocurrencies in partnership with Paxos.

In March 2021, the company announced the purchasecryptocurrency startup Curv "to accelerate and expand its initiatives to support cryptocurrencies and digital assets," which was its first acquisition of its kind. Ava Labs is developing a scalable Avalanche blockchain with subnetting and token support based on real world assets.

Last week, Paxos announced the attraction ofinvestments in the amount of $ 300 million with the participation of PayPal Ventures. The company is issuing Paxos Standard (PAX) stablecoin pegged to the US dollar and PAX Gold pegged to gold. Paxos is also releasing the BUSD stablecoin in partnership with the Binance crypto exchange.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) 9.7
2 Bybit 7.5
3 OKEx 7.1
4 Exmo 6.9
5 Huobi 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform features - availability of additional features - futures, options, staking, etc.
  • final grade - the average number of points for all indicators, determines the place in the rating.

PayPal plans to launch its stablecoin on the blockchain


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