PayPal Embraces PYUSD for Global Payments, Targeting $500B Cross-Border Market

PayPal is expanding its stablecoin PYUSD to facilitate cross-border payments for businesses of all sizes. By leveraging PYUSD by late 2024, PayPal will empower over 20 million merchants to make international vendor payments without currency conversions or delays. This move aims to streamline transactions in a sector worth $500 billion annually. 2024 also sees the integration of PYUSD into Hyperwallet, enabling global payout services for freelancers and contractors. A new bill-pay feature will allow merchants to settle with suppliers using PYUSD directly by late 2024, cutting down on transaction costs and delays.