PayPal Expands PYUSD Stablecoin to Stellar for Enhanced Payment Solutions
PayPal is launching its PYUSD stablecoin on the Stellar blockchain to enhance its role in cross-border remittances and payment financing. Key points include:
- PYUSD also operates on Ethereum and Solana.
- The expansion aims to facilitate payment financing for small and medium-sized businesses facing cash flow issues.
- Businesses can access real-time working capital, enabling instant settlement on Stellar.
- The partnership received approval from the New York Department of Financial Services (NYDFS), pending a final review before launch.
- Stablecoins are increasingly popular for trading cryptocurrencies without converting to fiat currency.
May Zabaneh from PayPal noted that this collaboration will advance digital currency use in cross-border payments.