Users in the new regions, including countries in the European Union, will be able to buy, hold, send, and receive PYUSD directly through their PayPal accounts. Transfers to external wallets and conversion into local currencies will also be supported. According to the company, the main advantage for businesses is faster settlement, with transactions becoming available within minutes.
PYUSD was launched in the United States in 2023, but with a current market capitalization of around 4 billion dollars, it still remains well behind market leaders USDT and USDC.
Mastercard doubles down on crypto infrastructure
Alongside PayPal’s expansion, Mastercard is also increasing its presence in the crypto sector. According to an official report, the payments giant has announced the acquisition of BVNK, a company specializing in stablecoin infrastructure.
The deal could reach as much as 1.8 billion dollars, including up to 300 million dollars in additional performance-based payments.
Notably, the acquisition comes just a few months after failed talks between BVNK and crypto exchange Coinbase, where a possible takeover was reportedly discussed at a valuation of around 2 billion dollars.
