Stablecoin

2024

PayPal USD

Bitcoin

<h4><strong><a href="https://www.altcoinbuzz.io/?s=paypal" target="_blank" rel="noopener">PayPal</a> said it has partnered with Xoom to improve cross-border payment functionalities using its stablecoin, PayPal USD (PYUSD). The payment giant noted in <a href="https://newsroom.paypal-corp.com/2024-11-19-PayPal-PYUSD-To-Bring-Speed-and-Reduced-Costs-to-Cross-Border-Payments-with-Xoom" target="_blank" rel="noopener">an announcement</a> shared on November 19th that the move will help improve PYUSD’s reach in Asia and Africa. </strong></h4> 
<p>And will also ensure faster settlement of transactions beyond traditional banking hours.</p> 
<h5><strong>PayPal Expands PYUSD for Cross-Border Payments</strong></h5> 
<p>Stablecoins play a huge role in cross-border transactions, especially in Asia and Africa, where locals rely on stablecoins to store and move money. Through partnerships with payment providers Cebuana Lhuillier and Yellow Card, PayPal plans to implement the use of PYUSD for cross-border payments in Africa and Asia.</p> 
<p>Yellow Card’s CEO, Chris Maurice, believes stablecoins like <a href="https://www.altcoinbuzz.io/?s=PYUSD" target="_blank" rel="noopener">PYUSD</a> have huge potential to change global finance. Officials at PayPal state that this integration will help improve financial inclusion.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Big News <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f389.png" alt="🎉" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p>We’re proud to team up with <a href="https://twitter.com/PayPal?ref_src=twsrc%5Etfw">@PayPal</a> and <a href="https://twitter.com/Xoom?ref_src=twsrc%5Etfw">@Xoom</a> to bring faster, cost-effective cross-border money transfers using PayPal USD (PYUSD)! [<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> 1/3] <a href="https://t.co/9RcQH3m8Kg">pic.twitter.com/9RcQH3m8Kg</a></p> 
 <p>— Yellow Card App (@yellowcard_app) <a href="https://twitter.com/yellowcard_app/status/1858927828776964554?ref_src=twsrc%5Etfw">November 19, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>In addition, the integration will enable PayPal to send funds to their African recipients. Interestingly, these transactions would have options to either deposit funds in mobile money accounts or local bank accounts.</p> 
<h5><strong>A Growing Expansion Plan</strong></h5> 
<p>The move is part of PayPal’s effort to expand the use of its PYUSD stablecoin. The payment provider launched the <a href="https://www.altcoinbuzz.io/?s=stablecoin" target="_blank" rel="noopener">stablecoin</a> in 2023. Despite being newer than older stablecoins, PYUSD already boasts a higher market cap than FRAX and EURC. And is currently the sixth-highest stablecoin by market cap.</p> 
<figure id="attachment_155878" aria-describedby="caption-attachment-155878" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-155878" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD.jpeg" alt="" width="2229" height="813" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD.jpeg 2229w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-300x109.jpeg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-1024x373.jpeg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-768x280.jpeg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-1536x560.jpeg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-2048x747.jpeg 2048w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-1152x420.jpeg 1152w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-696x254.jpeg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/PayPal-PYUSD-1068x390.jpeg 1068w" sizes="(max-width: 2229px) 100vw, 2229px">
 <figcaption id="caption-attachment-155878" class="wp-caption-text">
  Source: <a href="https://coinmarketcap.com/view/stablecoin/" target="_blank" rel="noopener">CoinMarketCap</a>
 </figcaption>
</figure> 
<p>As part of its expansion plans, PayPal already <a href="https://www.altcoinbuzz.io/cryptocurrency-news/us-users-can-fund-crypto-com-purchases-with-paypal/" target="_blank" rel="noopener">launched PYUSD on Solana,</a> in partnership with Crypto.com, Paxos, and Phantom. Additional initiatives include a rewards program in partnership with Anchorage Digital, incentivizing users to hold PYUSD within its ecosystem.</p> 
<p>Despite its growing reach, PYUSD competes with market leaders like USDT and USDC, which dominate with significantly higher adoption and liquidity. However, PayPal’s focus on emerging markets and partnerships with regional payment providers give PYUSD a unique edge in areas underserved by traditional financial services.</p> 
<p><iframe title="EXPLOSIVE Altcoin Sector For 2025! Cardano ADA XRP MASSIVE News" width="696" height="392" src="https://www.youtube.com/embed/GN9_nJcHiko?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/paypal-partners-with-xoom-for-global-stablecoin-payments/">PayPal Partners with Xoom for Global Stablecoin Payments</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

PayPal Partners with Xoom for Global Stablecoin Payments

Altcoin Buzz

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