PayPal is taking a big step toward expanding its stablecoin strategy.
“For years, stablecoins have been crypto’s killer app,” said May Zabaneh, Vice President at PayPal. “Working with Stellar will help bring real-world value to users, especially in cross-border payments where digital currency can make a major impact.”
This announcement follows a trend of stablecoins gaining momentum in everyday finance. For example, Visa began using Circle’s USDC stablecoin for settlement on Solana. This proves a growing institutional trust in blockchain-based money. PYUSD on Stellar could follow a similar path, bringing real-time payments and financial tools to more users, especially small businesses and underserved communities.
“Stellar is built for trusted global payments at scale,” said Denelle Dixon, CEO of the Stellar Development Foundation. “Bringing PYUSD to our network will give everyday users and small businesses across the globe access to powerful financial tools.”
On June 10th, PayPal announced an upcoming feature that will allow U.S. users to earn rewards on their PYUSD holdings directly within their PayPal wallets. In a message titled “Buy. Sell. Earn Rewards,” the company encouraged users to join a waitlist to be among the first to access these benefits.
This move marks another step in expanding the utility of PYUSD, PayPal’s U.S. dollar-backed stablecoin, by offering added incentives for users to hold and use it in everyday transactions.
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PYUSD is coming to @StellarOrg, reaching a broader group of developers and unlocking new opportunities for the stablecoin. More blockchains, greater access – and we’re not stopping now.
Buy. Sell. Earn Rewards. Soon PayPal users in the US will be able to earn rewards on PYUSD holdings in their PayPal wallets. Be one of the first to access PYUSD rewards, join the waitlist today: payp.al/pyusdrewards
