PayPal Puts on Its Brave Face: 20 Million Merchants, Here Comes PYUSD! 🎉💰

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Well, hold onto your hats, dear friends! The race for the shiny top spot in the wild world of stablecoins is on, and guess who’s putting on wacky racing shoes? That’s right—none other than PayPal! Yes, the payment whizz is determined to spread its PYUSD stablecoin like jam on toast, aiming to sprinkle it over 20 million small and medium businesses this year. 🥳

PayPal Stablecoin

In a cheeky tête-à-tête with the folks at Bloomberg, Michelle Gill, the grand master of PayPal’s tiny business brigade, spilled the beans. She revealed that Pyusie (that’s what we’ll call PYUSD, just for fun) is going to be everywhere you buy your candy! 🍬

The PYUSD Parade

Remember back in the summer of 2023? That’s when our dear ole PYUSD made its grand debut! It was a little shy at first, only hanging out with Ethereum, but boy oh boy, it couldn’t resist a good party. By May 2024, it had crashed the Solana scene. And then, in January, it strolled up to Cardano like it owned the place, just to be even more useful! Talk about a social butterfly! 🦋

Merchants Cheers

Last year, this charming stablecoin was backed by a cocoon of cash and goodies worth over $1 billion! But alas, in a twist of fate, the wild-world of Bitcoin said “Oopsie daisy!” and dropped below $85,000, giving PYUSD a wee reality check. Now it’s nibbling on a humble pie with a market cap around $704 million. 🍰

But wait! Don’t cry for PYUSD just yet! PayPal’s not throwing in the towel. Gill shared that the magic will come from crossing borders like superheroes. US merchants could soon be sending payments overseas without breaking a sweat over pesky currency conversions! Now that’s what I call a win-win! 🌍

Pushing PYUSD Through Hyperwallet

Next up! PayPal is integrating PYUSD into its Hyperwallet service! Yes, that trusty sidekick which helps businesses pay everyone under the sun—freelancers, contractors, and even the occasional magician! 🎩✨ PayPal scooped up Hyperwallet in a nifty deal back in 2018, and they’ve been hatching fabulous plans ever since.

Crypto Integration

Plus, by the end of 2025, those crafty merchants will even be able to settle their PayPal transactions in cryptocurrencies. It’s like a magic trick that finally turned real! PayPal’s CEO, Alex Chriss, put it perfectly: “We’ve been yapping about blockchains for a decade. Now we’re making it useful when it comes to spending. Hooray!” 🎊

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2025-02-26 15:30