Oh my, oh me! PayPal, the payment giant, has a cunning plan to make its stablecoin, PYUSD, the king of global payments! 🤯 By 2025, they aim to integrate it into more of their products, including Hyperwallet, because who doesn’t love a good wallet? 📈
According to a sneaky Bloomberg report, PayPal wants to make PYUSD available for global payments, because, you know, merchants in the U.S. are just dying to pay vendors and suppliers abroad. 🌎 “A lot of the payments we’re expecting are going to be cross-border,” said Michelle Gill, general manager of PayPal’s small business and financial services group, trying to sound as boring as possible. 😴
But wait, there’s more! PayPal hopes to make PYUSD payouts live in the first half of 2025, which is just around the corner, folks! ⏰ They also want to make it a payment option for over 20 million merchants to pay vendors, because who needs cash when you have PYUSD, right? 💸
Michelle Gill explained, “The thesis was: Can we facilitate that on PYUSD rails so as not to have the currency conversion, the friction, as well as time?” Wow, what a thrilling thesis! 🤓
But how did PayPal come up with this genius plan, you ask? Well, they acquired Hyperwallet in 2018 for a cool $400 million, because who doesn’t love a good acquisition? 🤑 Hyperwallet, a San Francisco-based firm, provides a global payout platform, because, you know, payouts are the best! 🎉
Alex Chriss, PayPal’s Chief Executive Officer, said, “We’ve been talking about blockchains for like a decade now — the concept of these things never becomes real until you actually can start to spend it.” Ah, finally, someone who understands the importance of spending money! 💸
PayPal first launched its stablecoin in August 2023 on the Solana (SOL) and Ethereum (ETH) blockchain, because why not? 🤷♂️ Last month, they made PYUSD accessible through the Cardano ecosystem, because they love a good ecosystem! 🌿 Last year, they conducted the first business transaction using PYUSD, and we’re sure it was a real thrill-ride! 🎢
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2025-02-26 11:12