- PayPal is set to increase its stablecoin PYUSD adoption in 2025.
- The payment giant is going to offer Stablecoin services to its 20 million merchants this year.
Stablecoins have been gaining much traction ever since Trump won US elections in 2024. White AI & Crypto Czar David Sacks highlighted the potential of stablecoins multiple times publicly. He even stated stablecoins are a better option compared to CBDCs and they can help extend the dollar’s dominance across the globe.
Meanwhile, global payment giant PayPal Holdings announced its plans to increase its stablecoin PYUSD adoption this year. A recent Bloomberg report confirmed that PayPal is planning to integrate PYUSD into its products to help clients enable simpler transactions.
PayPal Plans to Offer PYUSD Payment Option for its Merchants
Getting into the details, PayPal revealed its plans to offer PYUSD payment option to its merchants. Around 20 million small-to-medium sized merchants are going to benefit from the PYUSD stablecoin payments. PayPal enables them to pay their vendors through its upcoming bill-pay product by the end of 2025.
PayPal’s small business and financial services group general manager Michelle Gill stated that their goal is to facilitate efficient transactions. He further stated,
“A lot of payments we’re expecting are going to be cross-border because merchants in the US are seeking to pay vendors and suppliers abroad. The thesis was: Can we facilitate that on PYUSD rails so as not to have the currency conversion, the friction, as well as time?”
The stablecoin competition is set to tighten this year with top stablecoins upgrading their position in the market. On the other hand, Ripple introduced RLUSD stablecoin this year further increasing the competition. The US leaders’ planning for stablecoin growth combined with PayPal’s initiative could take stablecoins to new heights in the fintech space.
Highlighted Crypto News Today:
Will the SEC Approve Grayscale’s Ethereum ETF Staking Proposal?
