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The potential stablecoin could be used alongside Bitcoin to make purchases through Checkout with Crypto and could be purchased on PayPal’s exchange to help drive volume—though the latter’s viability will depend on establishing consumer interest and adoption.
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Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at PayPal, said the company will work with relevant regulators if it decides to move forward with development. He also said a stablecoin for PayPal’s use would “need to support payments at scale and have security.”
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