PayPal's Xoom introduces USD conversion from its stablecoin, PayPal USD (PYUSD), for cross-border money transfers.

PayPal's Xoom cross-border money transfer service now allows users to send funds abroad using USD converted from its own stablecoin, PayPal USD (PYUSD). This move is part of PayPal's effort to drive mainstream adoption of cryptocurrencies and offers a convenient way to send money at lower costs. PYUSD, pegged to the USD and issued by Paxos Trust, can also be used to fund purchases and buy other cryptocurrencies.

April 04, 2024
7 Articles

Further Reading