PayPal Makes First Business PYUSD Payment as Stablecoins Surge

PayPal has reportedly completed its first business payment with its in-house stablecoin.This was done to show how digital currencies could be used to improve upon what are often muddled commercial transactions, Bloomberg News reported Thursday (Oct. 3), citing interviews with company officials.The payment — PayPal did not disclose the amount — was to accounting giant Ernst & Young on Sept. 23 using PYUSD, the stablecoin the firm launched in 2023, using an SAP SE platform to complete the transaction. Stablec ...