PayPal plans to increase adoption of its stablecoin PYUSD
On February 26, Bloomberg reported that PayPal plans to increase the adoption rate of its stablecoin PYUSD in 2025. 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. In addition, PayPal plans to add PYUSD as an option for global payments through 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 service will also allow merchants to settle PayPal checkout transactions in cryptocurrency. PayPal CEO Alex Chriss told Bloomberg that we have been talking about blockchain for a decade-the concept of these things will never become a reality until you actually start consuming it. I think this is what we achieved.
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