PayPal launches stablecoin payments via Xoom, partnering with firms in Africa and the Philippines.

PayPal has announced that its Xoom cross-border payments service will now allow partners to settle international money transfers using PayPal USD, a stablecoin. This move aims to support economic growth in developing countries. Initial partners include Cebuana Lhuillier from the Philippines and Yellow Card in Africa, which will enable PayPal customers to transfer money across Africa using PayPal's stablecoin, PYUSD.

November 19, 2024
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