PayPal plans to increase adoption of its stablecoin PYUSD

According to Bloomberg, PayPal plans to increase the adoption of its stablecoin PYUSD by 2025. It will launch a bill payment product that will allow its more than 20 million small and medium-sized businesses to choose to pay suppliers using PYUSD. 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 worldwide. PayPal acquired Hyperwallet in 2018 for $400 million. It plans to launch PYUSD payments in the first half of this year. By the end of 2025, the business will also allow merchants to settle PayPal checkout transactions with cryptocurrency. PayPal CEO Alex Chriss said in an interview with Bloomberg, "We've been talking about blockchain for ten years - these things will never become reality until you actually start consuming them. I think that's what we've achieved."