PayPal Coin, the PayPal stablecoin

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Since last year, PayPal, a well-known international payment platform, has shown considerable interest in Bitcoin, integrating it into its wallet first for US users and subsequently, from November 2021, extending it to all customers in the world. It is therefore possible today to buy Bitcoin or carry out transactions and payments with the cryptocurrency, expanding the market vision and instilling extreme confidence in cryptocurrencies, integrating them into its platform.

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In 2021, Bitcoin's P2P network exceeded that of Paypal in terms of quarterly transactions, which is why the multinational's interest in the crypto market has grown enormously, and today it has confirmed its intention to create its own stablecoin, respecting the regulations in force and therefore usable in all countries where the exchange will be authorized.

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PayPal Coin, this could be the name of the stablecoin and it could somehow revolutionize the market, especially at an institutional level, it could be the first stablecoin to also enter the classic trading sector such as the major world exchanges. As stated by the developer Steve Morser on Twitter, the company is seriously working on the development of its own stablecoin, and also revealed to the well-known American newspaper Bloomberg, so much more than a simple intention or project, it is likely that PayPal Coin could see the light already by the end of this year.

The news would also be confirmed to Bloomberg by PayPal's senior vice president for cryptocurrencies and digital currencies Jose Fernandez da Ponte, according to which the company is actually exploring possible options to create its own stablecoin. Cryptocurrencies and especially stablecoins could be, according to the economist, the natural substitutes for traditional cash.

It is clear that stablecoins are the potential entry key to the world of cryptocurrencies, the acceptance of the stablecoin by government authorities could really be the gateway to mass adoption, albeit with all the associated limits.

Will PayPal Coins be able to convince even the most suspicious users? PayPal's hundreds of millions of customers could really make a big contribution to the crypto market. The belief that cryptocurrencies are here to stay and to unseat the current financial and micropayment system is growing stronger among large companies like PayPal.

In my opinion, Hive Backed Dollar or HBD is potentially the best stablecoins, taking advantage of a blockchain like Hive that allows free transactions of any entity, unlike all other blockchains that provide even minimal commissions such as UST of Earth (on average from 0.30 at $ 0.60). At the level of micropayments, however, it still suffers from a lack of stability and I hope that in the future there can be important improvements that can better monitor the value of HBD and intervene in time.

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Hive Backed Dollar or HBD is potentially the best stablecoins

Well, may be we need the outside world tell the same. HIVE has many advantages over other places, but we are lacking to sell them. Paypal already has the floor set up - anything they develop is a hit from day one.

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Hive is a niche, and even though it has a better product, it has enormous difficulty reaching the masses.

PayPal is already a globally established company, a well-known brand for which, even with a poor product, it will have an enormously larger following.

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Hive is a niche, and even though it has a better product, it has enormous difficulty reaching the masses.

And its name does not help either. If someone search for "Hive blockchain" on the Google, the first result they get is the website of the HIVE Blockchain Technologies Ltd, which has actually nothing to do with this Hive blockchain. They are two different things. That company was founded in 1987, and they are involved in cryptocurrency mining. It is very confusing. Even for me. How do they have the "blockchain" name since 1987? Blockchain technology and cryptocurrency was not existed in that time.

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Wow! A lot of interesting stuffs are happening in the space. PayPal introducing it's own stable coin is a big one for cryptocurrency in general. We need stable coins more than ever in the space now because it's less risky to invest in considering that it's not as volatile as other cryptos.

Coming from a renowned institution, PayPal coin will definitely gain enormous adoption and might lure many onlookers to the crypto space

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Another stable coin should benefit the investors. Sometimes more competition good for us. Having something backed by big company's is the next step forward. I like my stables especially hbd, busd and usdt. Sometimes you just need a jolt and it can start a mass adoption !

!PIZZA

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Paypal was (and is) a blessing and a curse for cryptocurrencies, like any other "traditional" financial company moving to crypto... They will never create something decentralized and for the people, as they are used to doing things for them and 100% for their profits...

But, as you said, it would be a nice "gate" for crypto adoption in general... Will I use it? Maybe for easier buying of quality cryptocurrencies and for cashing out... Will I accumulate them? No way! :)


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