PayPal can complete billion-dollar payments with stablecoins within two hours

PayPal can execute internal dividend payments of $1 billion within two hours using stablecoins. Traditional payment processes would take six to ten business days. Steve Everett from PayPal discussed these possibilities during LONGITUDE Singapore, where he provided examples of payments between business units. PayPal's stablecoin, PayPal USD (PYUSD), is issued by Paxos and is pegged to the value of the US dollar. Payments with stablecoins are processed via blockchain, allowing them to occur in the evening and on weekends as well. This accelerates the availability of funds for businesses, although additional steps such as checks and conversions to regular dollars may be necessary. In 2024, PayPal already used PYUSD to pay invoices from EY, demonstrating that the company is deploying the technology for business purposes. Everett emphasized that stablecoin payments are possible 24 hours a day and can be processed almost instantly.

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