PayPal Reportedly Discussing Its Own Stablecoin

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Online payment operator PayPal is hitting the newswire today, reportedly discussing the creation of their own fiat-backed stablecoin. Adoption of broader mainstream crypto within major companies continues to grow, exemplified by this and other recent company discussions, such as eBay CEO Jamie Lannone discussing new potential payment options and potential utilization of NFTs in recent days. What We Know Initially reported by The Block, several unnamed individuals quoted to be familiar with the situation state that PayPal is engaging with a number of different developers, including Ava Labs, around the potential launch of their own stablecoin. With PayPal reportedly engaging with a number of different stablecoin developers, it’s rumored that PayPal could likely lean on a third-party company to develop the firm’s coin. Ava Labs crypto, AVAX, had a surging start to 2021 but has cooled off and remained relatively stable in recent months. Ava Labs is fresh off the…

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