PayPal to expand the functionality of its own cryptocurrency PYUSD

PayPal plans to significantly expand the use of its own stablecoin PYUSD in 2025. The company aims to integrate it into various financial services, simplifying transactions for users around the world. One of the key areas will be the introduction of PYUSD as a means of payment for more than 20 million small and medium-sized enterprises. This will allow businesses to make international payments more conveniently without the need for currency conversion.

According to Michelle Gill, PayPal’s general manager of small business, many sellers in the United States are looking to pay for goods and services to foreign suppliers. Using PYUSD can reduce transaction time and associated costs. The first business payment using PYUSD was made last year, and the company believes that its use will become widespread in the near future.

In addition, PayPal plans to integrate PYUSD into Hyperwallet, a service for international payments to contractors, freelancers, and sellers. This option is expected to become available in the first half of 2025. By the end of the year, the company will also allow sellers to make payments via PayPal Checkout in cryptocurrency.

PayPal CEO Alex Criss emphasizes that blockchain technologies have been discussed for more than a decade, but they only gain real value when users can freely use digital assets for daily expenses. This is exactly the opportunity the company seeks to realize through the large-scale introduction of PYUSD.

In addition, PayPal has already announced that its partners will be able to use stablecoin for international money transfers through the Xoom service. This opens up new prospects for fast and cheap transactions on a global scale.