As cryptocurrencies are always in the news nowadays, it seems only a matter of
time before it becomes part of the mainstream economy. With growing interest in
cryptocurrencies among individuals, businesses, and institutions, more and more
businesses are getting ready to accept cryptocurrencies for payment. In the US, big
tech companies like Microsoft and Tesla have been doing it for a long time. But in
recent times, many smaller companies are accepting crypto payments. If the
growing popularity of cryptocurrencies is pushing businesses towards it, another
reason is the minimal transactions fees involved in the transactions. To increase the
customer base, PayPal accepted cryptocurrencies for a long time. Still, in the latest
development, according to Bloomberg News, the company has introduced its
cryptocurrency named Stablecoin.
Those eager to know what is Stablecoin must have got their answer
by now. But, Stablecoin is still in the conceptual and exploratory stage,
as admitted by the PayPal officials in a statement released a few days
ago. The company revealed that it organized an internal hackathon in
its digital currencies and blockchain division, indicating its interest in
introducing its cryptocurrency. However, it is yet not clear about the
progress made by the company and when we can expect to see the
new cryptocurrency making its appearance.
The company’s move comes when cryptocurrency payments are fast
gaining popularity, hoping that the currency will appear sometime
soon.
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