PayPal’s PYUSD stablecoin launches on Polygon

PayPal’s PYUSD stablecoin is now live on Polygon, enabling streamlined global payments, compliance, and fiat conversion for businesses through a single integration.

PayPal’s US dollar-backed stablecoin, PYUSD, is now natively available on the Polygon blockchain through an issuance by Paxos. This integration leverages Polygon’s Open Money Stack, allowing businesses to access PYUSD directly for cross-border payments, compliance, and fiat conversion using existing wallets, payment ramps, and compliance tools. By consolidating multiple services into a single infrastructure, the move simplifies global stablecoin payments, reducing both operational costs and technical complexity. Polygon’s network, which has processed over $2.6 trillion in stablecoin transactions and is trusted by companies like Revolut and Stripe, now enables businesses to accept payments from cards, bank accounts, or exchange balances, settle in PYUSD internationally, and convert funds into local currencies through one integration. This launch comes as the stablecoin market grows increasingly competitive, with PYUSD aiming to expand its reach and utility among businesses seeking efficient and compliant payment solutions.