PayPal Explore the Idea of a Stablecoin

Introduction

Wow, I just read that PayPal is exploring the idea of having its own stablecoin!

You might guess the name!

The answer is Paypal Coin...

An obvious choice.

The article I read mentioned they will work closely with the regulations in place and the stablecoin pegged to the US dollar.

It is an exciting time for the whole crypto market.

My thinking

When you look under the hood!

It will bring nothing new for PayPal and the stablecoin will be centralized.

It will be possible for them to freeze an account with PayPal Coin. They will ask you for the boring AML and all the crappy paperwork that comes with it.

My point is people might just use the PayPal app as usual without using the Paypal Coin.

The market has already enough stablecoin.

Why do people want to use another one?

Just my two cents!

Conclusion

I understand that a company is trying to always bring new features for their user base and nothing wrong with that.

Never forget PayPal is a centralized entity and holding stablecoins with them is the same as having a bank account with a normal bank.

At least we are moving into the mainstream adoption of crypto.

Sincerely, Chesatochi