PayPal is contemplating launching its personal cryptocoin, report says

PayPal is reportedly contemplating launching its personal cryptocurrency backed by the US greenback because the venerable on-line cost firm continues to combine methods to have interaction with digital cash on its platforms.

The corporate is simply exploring the concept of releasing its personal stablecoin, a cryptocurrency backed by and linked in worth to an present foreign money, PayPal confirmed to Bloomberg. Developer Steve Moser dug round within the PayPal app and found proof that the corporate was tinkering with a cryptocurrency known as “PayPal Coin” backed by the US greenback.

CNET has reached out to PayPal for remark.