Payments giant PayPal said the company plans to integrate by the end of the year stablecoin PYUSD in products for small and medium businesses.
The goal of including the stablecoin is to make payments between tens of millions of businesses easier, according to the company's director of small business and financial services, Michelle Gill.
This is precisely why PayPal is preparing a tool for paying bills, so that businesses can attract as many of their counterparties as possible to the corporation’s cryptocurrency infrastructure.
As Michelle Gill stated, a large number of such payments will be related to cross-border payments. By using PYUSD, it will be possible to avoid currency conversion, slower transactions and additional fees, which is very important for small and medium-sized businesses.
In addition, the payment giant is going to include support for its stablecoin for global payments through the Hyperwallet service. By the end of this year, PayPal is preparing to introduce the possibility of paying with digital coins in its cash transactions.
According to the company's CEO Alex Chriss, the potential of blockchain will only be truly realized if customers start spending cryptocurrencies en masse in their everyday lives.
