PayPal is offering a new service in the USA that allows its customers to make convenient cross-border money transfers using the PYUSD stablecoin, launched by the same company in August 2023.
By using the Xoom app, US citizens will be able to quickly convert their PYUSD into USD and then send the amount to over 160 different countries around the world.
Let’s see all the details below.
PayPal expands the use of stablecoins in cross-border payments in the USA
PayPal, a leading company worldwide in the field of digital payments, is launching a new service supported by its electronic remittance provider Xoom that allows US citizens to make cross-border payments in stablecoin.
Since yesterday all PayPal customers can convert PYUSD, the company’s stablecoin created in August of last year, into USD through Xoom, and conveniently send money abroad to friends and relatives in over 160 different countries.
This new feature is completely free for USA users:
PayPal, a giant in the online transfer market, seems confident that stablecoins will be increasingly used to simplify and make international payments more efficient and that the whole world…
