PayPal enabled cross-border stablecoin payments using its PayPal USD (PYUSD) stablecoin via the Xoom platform on November 20, 2024. This marks a significant expansion of PYUSD's real-world utility.
Cebuana Lhuillier and Yellow Card are the first Xoom disbursement partners to utilize PYUSD for these cross-border transactions. This integration aims to provide a more efficient method for international remittances.
The move leverages stablecoin technology to potentially reduce friction and costs associated with traditional international money transfers, enhancing PayPal's offerings in the global payments landscape.
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