PayPal's stablecoin is on the way.

As the company expands its cryptocurrency activities, PayPal (PYPL) is considering launching its own stablecoin.

PayPal Curv, according to CoinDesk, is actively working on the development of a stablecoin, citing sources within the company.

"We're looking into the possibility of a stablecoin," a PayPal spokesman told CoinDesk in an email. "Of course, if and when we seek to move forward, we'll work closely with the regulators."

The news was first reported by Bloomberg, which emphasized that the stablecoin will be backed by the US dollar.

PayPal has already increased the number of cryptocurrencies that its customers can purchase, as well as investing in training for its employees and users.

By flEXI tEAM