We’re pleased to announce that BitPay now supports the new PayPal stablecoin, PayPal USD (PYUSD)!
Starting today, BitPay users can spend PYUSD at supported merchants, securely hold it within our self-custody wallet, and use PYUSD to purchase gift cards. BitPay merchants will have the ability to accept PYUSD similar to all of the other cryptocurrencies supported across BitPay merchant solutions.
Origins of PayPal USD (PYUSD)
In a press release dated August 7, 2023, PayPal’s CEO and President, Dan Schulman, was quoted as saying that the growing trend of crypto adoption requires an asset that is both digitally native and financially stable. He believes that PayPal’s history provides a perfect foundation for the new stablecoin.
The goal of the coin is to create a “bridge between fiat and Web3 for consumers, merchants, and developers,” according to the release.
PayPal USD for crypto customers
BitPay users will have multiple ways they can spend and manage their PayPal USD funds.
Spend with any BitPay merchant using PYUSD
Visit our merchant directory for places to spend PYUSD.
Store, send, and receive PYUSD
Store and manage your PYUSD with self-custody! Download the BitPay app to securely store and manage PYUSD.
Buy gift cards for over 250 top retailers and brands
Explore all of the different gift cards you buy with PYUSD in the BitPay app or Extension.
Take control of your crypto
PayPal USD for business
Wondering what is the best way to accept cryptocurrency payments for your business? BitPay’s crypto payment processing solutions give businesses a turn-key solution to integrating crypto payments into their operations. Sign up for your BitPay merchant account to easily accept PayPal USD, along with all of the other top cryptocurrencies.
Already a BitPay merchant? No need to worry about needing to take extra steps – PYUSD will be automatically displayed in your invoices from here on out!