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PayPal, a U.S.-based digital payment solution company, plans to expand its user base by integrating the U.S. dollar-backed stablecoin, PYUSD, into various products. The company aims to facilitate the use of this currency for commercial transactions by the end of 2025.
New Product Integration
Targeting over 20 million small and medium-sized enterprises, PayPal is set to highlight the use of PYUSD in commercial payments. The company plans to launch an invoicing product by the end of 2025, designed to ease payment processes for businesses.
To avoid currency conversion delays in international payments, the company intends to utilize the PYUSD infrastructure. Additionally, PYUSD is expected to be included as a global payment option on the Hyperwallet platform, which was acquired for $400 million in recent years.
Global Payment Options
Through Hyperwallet, bulk payments are planned to be made to various stakeholders such as contractors, freelancers, and vendors. The system is expected to offer payment options using PYUSD in the first half of the year, with indications that it could also be used in transactions by the year’s end.
Michelle Gill, the general manager of the small business and financial services group, stated that inviting business suppliers to the PayPal network would simplify transactions. She expressed hope that the majority of payment transactions would be international, reducing issues stemming from currency conversion.
The system that PayPal plans to implement could enhance transaction efficiency in both domestic and international trade. With this initiative aimed at improving user experience and reaching broader audiences, the company seeks to diversify its payment solutions.
These developments may signal an increase in innovations within digital payment systems and options facilitating global transactions, attracting attention from both observers and users.
