Kiffmeister’s #Fintech Daily Digest (01/09/2022)

PayPal Explores Launch of Own Stablecoin in Crypto Push

PayPal is exploring the launch of its own stablecoin as part of its cryptocurrency push. Evidence of the company’s exploration into building a stablecoin was first discovered in PayPal’s app by developer Steve Moser. Hidden code and images show work on what is dubbed a “PayPal Coin.” The code indicates such a coin would be backed by the U.S. dollar. A PayPal spokeswoman said that the images and code inside of the PayPal app stemmed from a recent internal hackathon. [Read me]

Tech Startup Wants To Gamify Suing People Using Crypto Tokens

Law firm Roche Freedman LLP and tech startup Ryval plan to launch “the stock market of litigation financing” by allowing everyday Americans to bet on civil lawsuits through the purchase (and trade) of associated crypto tokens, or initial lawsuit offerings (ILOs).  In doing so, the firms hope to provide funding to individuals who would otherwise not be able to pursue claims. They are working with Ava Labs, the firm behind the Avalanche blockchain smart contract platform. [Read more]

BTW for entertaining and informative takes on the shadier side of fintech, I highly recommend David Gerard’s Attack of the 50 Foot Blockchain blog where I found out about the Ryval ILO. 

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