PayPal is making significant strides with its PYUSD stablecoin, integrating it into multiple platforms to simplify business and consumer transactions.
The goal is to use PYUSD for bill payments, mass payouts, and eventually all PayPal checkout transactions, aiming to make it a default digital currency for global payments.
A key move is the introduction of PYUSD for bill payments, targeting over 20 million small and medium-sized businesses. This will streamline cross-border payments by removing banking intermediaries, cutting fees, and speeding up transactions. PayPal has already tested this feature with a successful business transaction.
Additionally, PayPal is expanding PYUSD’s use in Hyperwallet, its platform for mass payouts to freelancers and contractors. This will offer faster, cheaper global payments compared to traditional bank transfers.
Venmo, once a consumer-only app, is now becoming a significant player in business payments. With projections showing revenue could exceed $2 billion by 2027, PayPal is forging partnerships with major companies to boost Venmo’s role in business transactions.
Despite a tough few years for PayPal’s stock, CEO Alex Chriss is focused on growing transaction margins and expanding Venmo’s presence in crypto and e-commerce, ensuring the company’s future growth.
Bhutan is taking a bold step in merging tourism and digital finance by enabling crypto payments for visitors across the country.
Tether, best known for powering the USDT stablecoin, is stepping beyond finance and into artificial intelligence.
Europe’s central bank has kicked off a major experiment to see how a digital euro might work in real life.
In a move to reshape how money moves across Africa, Circle is teaming up with Onafriq to introduce USDC as a low-cost, digital alternative for cross-border payments.