PayPal plans to increase the adoption of its stablecoin PYUSD

2025-02-26 18:05:45

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ChainCatcher news, according to Bloomberg, PayPal plans to increase the adoption of its stablecoin PYUSD by 2025, launching a bill payment product that will allow its more than 20 million small and medium-sized merchants to choose to pay suppliers with PYUSD. Additionally, PayPal plans to add PYUSD as an option for global payments through Hyperwallet, a service that helps organizations send bulk payments to contractors, freelancers, or sellers around the world. PayPal acquired Hyperwallet for $400 million in 2018. It plans to launch PYUSD payments in the first half of this year. By the end of 2025, the business will also allow merchants to settle PayPal checkout transactions in cryptocurrency.

PayPal CEO Alex Chriss stated in an interview with Bloomberg, "We've been talking about blockchain for a decade—these concepts will never become real until you actually start consuming them. I think that's what we're achieving."

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