PayPal to launch its stablecoin PYUSD on Stellar

PayPal is set to bring its stablecoin PYUSD to the Stellar blockchain, pending regulatory approval. According to an official announcement , PayPal is bringing its stablecoin PayPal USD ( PYUSD ) to the Stellar ( XLM ) blockchain network, known for its speed and low-cost transactions. The integration is currently pending regulatory approval from the New York State Department of Financial Services. Once live, users will benefit from more options to access and use PYUSD through digital wallets and connections to local banks and cash systems. In addition to expanding consumer access, the integration with Stellar opens doors for new liquidity channels and faster, more efficient capital flows for small and medium-sized businesses. Using Stellar’s real-time settlement features, businesses can access instant working capital in PYUSD to pay suppliers, manage inventory, or cover other expenses. This approach, known as Payment Financing or “ PayFi ,” could be especially helpful for businesses dealing with delayed payments or upfront costs. Liquidity providers on the Stellar network can also support these financing needs, potentially earning returns by funding real-world economic activity. PYUSD was launched initially on the Ethereum ( ETH ) blockchain in August 2023. It was later made available on Solana ( SOL ) in late 2023, and then expanded to Cardano ( ADA ) earlier this year. You might also like: SEC ends investigation into PayPal’s PYUSD stablecoin PayPal’s move to integrate its stablecoin PYUSD with the Stellar blockchain marks the latest step in its growing effort to drive adoption and expand PYUSD’s role in global payments. Most notably, PayPal announced in February that it will enable PYUSD payouts via its Hyperwallet platform by the end of Q2 this year, targeting cross-border payments for vendors and freelancers. In another significant development, Coinbase, the largest U.S. crypto exchange, recently waived fees for PYUSD transactions and introduced seamless 1:1 USD redemptions, improving access for merchants and institutional users. To further incentivize adoption, PayPal will begin offering a 3.7% annual yield—paid monthly—to U.S. users holding PYUSD in PayPal or Venmo wallets. You might also like: PayPal to expand PYUSD for global payments in 2025

Source: crypto.news