PayPal has partnered with Xoom to enable cross-border payments using its stablecoin, PayPal USD (PYUSD), expanding access in Asian and African markets.

PayPal has partnered with Xoom to enable cross-border payments using its stablecoin, PayPal USD (PYUSD), expanding access in Asian and African markets.

https://preview.redd.it/k1lsfw7il12e1.png?width=736&format=png&auto=webp&s=18fd3bb03d992ae289f2cd01a50e642afee424a4

This collaboration aims to facilitate faster transactions outside traditional banking hours. PYUSD, launched in 2023, is backed by US dollars and competes with stablecoins like USDC.

Despite its growth, PYUSD still lags behind the market leaders, USDt and USDC, which dominate the stablecoin market.

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