PayPal may likely collaborate with an existing stablecoin company instead of creating “something themselves”.
Online payments company PayPal Holdings Inc (NASDAQ: PYPL) is reportedly seeking to launch a stablecoin. News on PayPal’s attempt to launch a stablecoin was revealed by four knowledgeable sources about the matter.
Citing the sources, The Block said that PayPal may be partnering with another company regarding the development of its stablecoin. The sources revealed that PayPal has already made rounds among some stablecoin protocol developers.
Specifically, the sources said that PayPal has discussed with Ava Labs the stablecoin development. Speaking to The Block, a PayPal spokesperson said:
“PayPal continues to explore the potential of digital currencies, digital financial services infrastructure and how we can help enhance digital commerce as a trusted partner in the space. As a global company working with regulators and industry partners throughout the world…
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