PayPal, the worldwide leader in online payments, is preparing to launch its crypto token. After signs of this move, the company confirmed that it was found on its iPhone app. If successful, it will be called “PayPal coin” or simply PFG. However, they have already begun working closely with relevant regulators while developing these coins, which are meant as an alternative form for storing value outside traditional currencies like US Dollars or Sterling pounds; thus, providing more options when converting between different types of capital controls imposed by various governments across the globe.

PayPal has been exploring ways to use crypto technology for years. Recently, the company announced new features that allow users to buy and sell digital coins. Within its app, you can hold coins indefinitely without being spent on any purchase; however, a move introduced may signal how far away from mainstream acceptance this emerging market still is.

PayPal’s Chief Digital Officer, Eileen King, recently mentioned stable coins on the ‘Unchained‘ podcast. She said that a Stablecoin would need to support payments at scale and have security for PayPal’s use while also fitting into existing regulatory frameworks. Other tech giants such as Facebook are looking into creating their cryptocurrencies, too. One of these being Meta Platforms was formerly known as Facebook Libra crypto department, announced a new name after organizational independence from the company last year.