PayPal USD became natively available on the Polygon blockchain through the Open Money Stack, giving businesses direct access to the regulated stablecoin for cross-border payments and settlements. The integration combines wallets, fiat ramps and compliance tools into a single system, eliminating the need for multiple vendor relationships.
PayPal USD became natively available on the Polygon blockchain on Thursday, letting businesses access the regulated stablecoin through the network's Open Money Stack for cross-border payments and settlements.
"A stablecoin is only as useful as the places it can go and what it can do when it gets there," Polygon Labs CEO Marc Boiron said. "Bringing PYUSD natively into the Open Money Stack means a business can take money in, move it across borders, and cash it out in one integration, with compliance built in."
PYUSD, issued by Paxos under a national trust charter supervised by the Office of the Comptroller of the Currency, has a total supply of nearly $3 billion. Polygon has settled more than $2.6 trillion in stablecoin transactions to date and counts Revolut and Stripe among its users. Businesses already processing payments on Polygon can now access PYUSD through the wallets, fiat ramps and compliance services they already use, the companies said.
The rollout extends PYUSD's expansion after PayPal and MoonPay launched the PYUSDx platform in February, allowing developers to create application-specific stablecoins backed by PYUSD. Mastercard added PYUSD alongside five other regulated dollar-backed stablecoins to its settlement network in June, including support across Polygon. The integration positions PYUSD to compete more directly with market leaders Tether and Circle, whose USDT and USDC dominate the stablecoin market.
Businesses such as payroll providers, online marketplaces and remittance platforms could use PYUSD to pay contractors, settle with international sellers and move money into overseas markets without building their own banking and compliance systems, Polygon Labs said. End users could benefit from quicker payouts, fewer failed transactions and faster conversion into local currencies.
The integration builds on Polygon Labs' broader push into stablecoin-based payments. The company earlier this year signed definitive agreements to acquire Coinme and Sequence for more than $250 million, gaining money-transmitter licenses across 48 states and a retail network of about 50,000 locations.
"PYUSD is issued under a national Trust charter supervised by the OCC, and bringing it natively to Polygon puts a federally regulated, dollar-backed stablecoin on one of the most active networks for stablecoin payments," Paxos Chief Revenue Officer Peter Jonas said. "Businesses running on the Open Money Stack can now settle in PYUSD with confidence in the compliance and regulatory oversight that serious money requires."
This article is for informational purposes only and does not constitute investment advice.
