Overview

• PayPal has introduced a stablecoin-to-fiat option for international payments, enabling U.S. customers to use its PYUSD stablecoin for transactions.
• The service is available through PayPal's Xoom payment platform, allowing transactions to approximately 160 countries without transaction fees.
• PYUSD, a dollar-pegged stablecoin running on Ethereum, is backed by cash equivalents and short-term treasuries, aiming to boost user confidence and utility in commerce.
• The move is part of PayPal's broader strategy to drive mainstream adoption of cryptocurrencies and integrate them into the payments infrastructure.
• PayPal's initiative addresses the high costs of cross-border payments, leveraging the stablecoin market's potential for cost-effective and secure transactions.