PayPal Poised to Dominate the Stablecoin Market with PYUSD in 2025!

Jakarta, Pintu News – PayPal Holdings has announced ambitious plans to increase the adoption of their stablecoin, PYUSD, by 2025.

By integrating PYUSD into more products and services, PayPal aims to rival Tether’s (USDT) dominance and expand the use of stablecoins in the global market.

In a recent interview with Bloomberg, Michelle Gill, PayPal’s general manager of the small business and financial services group, revealed that the company plans to integrate PYUSD into 20 million small and medium-sized businesses as part of its expansion strategy for 2025.

PYUSD Integration in Merchant Payments

PayPal plans to introduce the PYUSD payment option to more than 20 million small to medium-sized merchants. By using a stablecoin that is equivalent in value to the US Dollar, PayPal is making it easier for merchants to make payments to their vendors without having to face currency conversion barriers.

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Michelle Gill, general manager of PayPal’s small business and financial services group, emphasized that PYUSD will facilitate faster and more efficient transactions.

“Many of the payments we expect will be cross-border as merchants in the US seek to pay vendors and suppliers overseas. The thesis is: Can we facilitate that on the PYUSD rail so there is no currency conversion, friction, and also time?”

With a focus on cross-border transactions, PYUSD is expected to reduce the friction that often occurs in international payments.

Utilization of Hyperwallet Acquisition

PayPal has acquired Hyperwallet in 2018 for around $400 million. The platform is now key in PayPal’s strategy to implement mass payments using PYUSD.

With Hyperwallet, freelancers and contractors around the world can receive payments easily and quickly. In 2024, PayPal successfully conducted the first business transaction using PYUSD.

Alex Chriss, CEO of PayPal, stated that the use of blockchain and stablecoins became real when people started being able to use them for everyday payments. This marks a big step for PayPal in driving the adoption of PYUSD.

“We’ve been talking about blockchain for about a decade now – the concept will never become real until you can actually start using it. And I think that’s what we’re doing.”

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Competition in the Stablecoin Market

The stablecoin market is getting increasingly competitive with big players like Circle with their USDC which has capitalized on the meme coin craze in Solana (SOL). USDC has almost doubled its presence in the market in the past year and has gained approval from the Dubai Financial Services Authority (DFSA).

On the other hand, Ripple (XRP) has also launched their stablecoin, RLUSD, which has entered the market with a supply of 120 million. RLUSD is now available on the Ethereum (ETH) and XRPL (XRP Ledger) networks, adding to the intensity of competition in the stablecoin market.

Overall, with PayPal’s ambitious plans to expand the use of PYUSD and improve its functionality through various products and services, 2025 is expected to be a turning point in the global adoption of stablecoins.

This initiative will not only strengthen PayPal’s position in the fintech market, but will also bring new innovations to the way we conduct digital transactions.

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Reference:

• Coingape. PayPal’s PYUSD Stablecoin Plans to Take on Tether (USDT) Dominance in 2025. Accessed on February 27, 2025
• CoinSpeaker. PayPal to Expand PYUSD Use Case, Bringing Stablecoin to 20M Merchants. Accessed on February 27, 2025
• The News Crypto. PayPal is Set to Boost its Stablecoin PYUSD Adoption in 2025. Accessed on February 27, 2025