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PayPal Boosts PYUSD Adoption by 2025: Bill Payments, Hyperwallet Integration, and Crypto Settlements
Generated by AI AgentCoin World
Wednesday, Feb 26, 2025 5:14 am ET1min read
PayPal, the global digital payments company, has announced its plans to boost the adoption of its stablecoin, PYUSD, by 2025. The company aims to integrate the cryptocurrency into its existing payment ecosystem, offering
and users more flexibility and choice in their transactions.One of the key initiatives is the launch of a bill payment product that will enable PayPal's 20+ million small and medium-sized merchants to pay their suppliers using PYUSD. This move is set to enhance the utility of the stablecoin and increase its acceptance among businesses.
In addition,
plans to integrate PYUSD as a payment option through Hyperwallet, a service that facilitates batch payments to contractors, freelancers, or sellers worldwide. PayPal acquired Hyperwallet in 2018 for $400 million, and the integration of PYUSD is expected to take place in the first half of this year.By the end of 2025, PayPal also plans to enable merchants to settle PayPal checkout transactions in cryptocurrency. This move is part of the company's broader strategy to embrace blockchain technology and offer more innovative payment solutions to its users.
PayPal CEO Alex Chriss expressed his enthusiasm about the company's blockchain initiatives, stating, "We've been talking about blockchain for ten years — these things never become real until you actually start consuming it. I think that's what we’ve achieved."
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