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PayPal (NASDAQ:PYPL) today announced plans to make the PayPal USD (PYUSD) stablecoin available on the Stellar network pending regulatory approval by the New York State Department of Financial Services (NYDFS)1. Stellar is a blockchain designed for fast, low-cost payments and real-world utility. By potentially expanding to Stellar, PYUSD leverages the network’s speed, low transaction costs, and ease of integration to enhance its utility for real-world payments, commerce, and micro-financing, offering an additional option to Ethereum and Solana.
PYUSD on Stellar can be used for fast, affordable cross-border payments and expanded access to essential financial services while bridging the digital and physical world with a vast array of on and off ramps. Users may also benefit from improved daily payment options and financing solutions such as working capital and business loans - use cases already thriving on the Stellar network - ultimately enabling a more seamless flow of value across global markets.
"For years, stablecoins have been deemed crypto’s ’killer app’ by combining the power of the blockchain with the stability of fiat currency. As we see cross border payments being a key area where digital currencies can provide real world value, working with Stellar will help advance the use of this technology and provide benefits for all users," said
An expansion on Stellar would give PYUSD users access to its vast network of on and off ramps, providing additional access through digital wallets, and connected to local payment systems and cash networks. Access to extensive Stellar infrastructure will enhance how people can use PYUSD in their everyday financial activities, from payments to remittances to merchant services.
"Stellar is the network for fast, low-cost, and trusted global payments at scale. By bringing PYUSD to 170+ countries, we’re transforming stablecoins into practical financial tools that millions of everyday users and merchants can actually use," shared
PYUSD on Stellar can also enhance liquidity and financing opportunities through Payment Financing or ’PayFi’, an emerging innovation in digital finance. Small and medium-sized businesses that face delayed receivables or pre-funding requirements would be able to access new sources of real-time working capital, disbursed in PYUSD. This capital can be used to pay suppliers, manage inventory, or address other operational needs – with instant settlement on Stellar. Liquidity providers can fund these opportunities and earn potential, sustainable benefits from real-world economic activity.
PYUSD on Stellar can drive efficient modernized money movement, cost transparency, and minimize settlement delays by unlocking better borderless financial flows.