PayPal (PYPL) has announced its plan to integrate the PYUSD stablecoin into the Stellar blockchain network to enhance the token’s capacity for cross-border remittances and payment financing. This move will enable small and medium-sized enterprises that struggle with delayed receivables or pre-funding requirements to tap into real-time working capital in PYUSD.

Key Points:

• PYUSD already operates on Ethereum and Solana and will now expand to the Stellar blockchain.
• This partnership aims to address issues faced by businesses in accessing necessary real-time funds, allowing them to promptly pay suppliers and manage inventory.

“For years, stablecoins have been celebrated as a transformative technology in finance, enabling blockchain’s advantages alongside the reliability of fiat currencies. Collaborating with Stellar will advance digital currency technologies for meaningful user benefits,” stated May Zabaneh, PayPal’s Vice President for blockchain and cryptocurrency.

The integration is pending approval from the New York Department of Financial Services (NYDFS) before it can go live.