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PayPal plans to increase adoption of its stablecoin PYUSD
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4 hours ago 4,247
According to Bloomberg, PayPal plans to increase the adoption of its stablecoin PYUSD in 2025, and it will launch a bill payment product that will allow its more than 20 million small and medium-sized merchants to choose to use PYUSD to pay suppliers. Additionally, PayPal plans to add PYUSD as an option to make global payments via Hyperwallet, a business 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 said in an interview with Bloomberg that we have been talking about blockchain for a decade—the concept of these things will never become a reality until you really start consuming it. I think that's what we achieve.
Keywords: Bitcoin
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