Online payment giant PayPal is exploring the possibility of issuing its own stablecoin, The Block has reported citing several sources.
According to them, PayPal is in talks with different stablecoin developers in order to launch its own.
The company made the leap into the crypto sector in the fall, when it started allowing its US users to buy, sell and store cryptocurrencies in their accounts.
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According to sources, PayPal has plans to develop its own stablecoin with the help of third parties, which is why it is maintaining contacts with different developers, including Ava Labs, the team behind the blockchain Avalanche.
The company has reportedly taken this decision with the aim of accelerating the development of its own currency as much as possible.