It would not be wrong to say that the last few years have been active in cryptocurrencies and blockchain. Many companies, led by gaming companies, are trying to make investments for the future by rapidly increasing their investments in crypto money NFT and blockchain. Many online payment services companies are also among the companies that invest in this issue.

Square, the digital payments company of Twitter founder Jack Dorsey, also changed the company’s name to ‘Block’ to focus on cryptocurrencies and blockchain. Now, a new cryptocurrency step has come from PayPal, another online payment service company. According to reports, PayPal, which has launched crypto trading in the UK in the past months, plans to launch its own cryptocurrency.

‘PayPal Coin’

According to Bloomberg’s report, PayPal plans to issue a stablecoin backed by the US dollar. In the statement made by the company, it was stated that PayPal is conducting research to launch its own stablecoin backed by a currency. Software developer Steve Moser, who writes for MacRumours, also stated in his reviews that the name of the crypto currency the company is working on is planned to be ‘PayPal Coin’.

In addition, Moser stated that he discovered references to a cryptocurrency called Neo (NEO) in PayPal’s iOS app, which now allows trading Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). There are not many details about the level of the company’s own cryptocurrency, which does not make detailed statements about its plans. However, it would not be wrong to guess that this new move of PayPal, which is stated to be satisfied with its moves regarding cryptocurrencies, may come soon.