PayPal plans to increase the adoption rate of its stablecoin PYUSD

On February 26th, according to Bloomberg, PayPal plans to increase the adoption of its stablecoin PYUSD by 2025 by launching a bill payment product that will allow its over 20 million small and medium-sized merchants to choose to use PYUSD to pay suppliers. In addition, PayPal plans to add PYUSD as an option for global payments through Hyperwallet, a business that helps organizations send bulk payments to contractors, freelancers, or sellers around the world. PayPal acquired Hyperwallet for $400 million in 2018. It plans to launch PYUSD payment in the first half of this year. By the end of 2025, this business will also allow merchants to settle PayPal checkout transactions in cryptocurrency. PayPal CEO Alex Chriss said in an interview with Bloomberg, "We've been talking about blockchain for ten years - the concept of these things will never become a reality until you actually start consuming it. I think that's what we've achieved