Is eBay Planning to Launch Its Own Virtual Currency?

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eBay’s PayPal unit has filed a patent application proposing secure tokens that could potentially be used as a virtual currency.

The application, filed in June 2012 and published on Dec. 19, 2013, would let people buy products without creating a payment provider account

“The recipient can use the token to purchase a product using a checkout though the payment provider,” the filing reads. “The purchase can be made without requiring the user to create the user’s own payment provider account.” The filing states that these tokens would be for giving gifts, but in theory, the tokens could serve as a currency that can be used for purchases outside of eBay and PayPal and would be a competitor to …

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Via: Mashable: Business

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