FV Bank, a U.S. licensed digital bank, announced on January 9, 2025, the integration of PayPal USD (PYUSD) for direct deposits and outbound payments. This feature allows for automatic real-time conversion of PYUSD to USD for all FV Bank account holders.
FV Bank is now the only licensed U.S. bank to offer direct deposit services for USDC, USDT, and PYUSD, providing clients with increased flexibility for global payments. Account holders can initiate PYUSD payments directly from their USD accounts without needing to mint the stablecoin themselves.
This expansion enhances PYUSD's accessibility and efficiency for cross-border transactions, reducing processing times and fees compared to traditional bank wires. The integration is seamlessly linked with blockchain analytics tools to ensure compliance with sanctions and AML regulations.
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