PayPal is preparing to launch its U.S. dollar-pegged stablecoin PYUSD on the Stellar blockchain, pending approval from the New York State Department of Financial Services.
Strategic Expansion by PayPal
The launch of PYUSD on Stellar aims to expand the real-world use cases of the stablecoin through low-cost, high-speed transactions. It will enable users to improve cross-border payments, everyday commerce, and small business financing.
Benefits of Integration with Stellar
The integration with Stellar provides access to an extensive network of digital wallets and local payment systems, making PYUSD more accessible for remittances, merchant payments, and daily transactions across over 170 countries.
Future of PYUSD and Small Businesses
PayPal and Stellar are also exploring the use of PYUSD in a financing model called ‘Payment Financing’ (PayFi), which would allow small and medium-sized businesses to access real-time working capital.
The launch of PYUSD on the Stellar blockchain could significantly enhance the usability of stablecoins and extend their application in global financial services, particularly for small enterprises.
