PayPal has recently utilized its proprietary PYUSD stablecoin for invoicing, marking a significant milestone for the company. The firm executed a payment to Ernst & Young through SAP’s digital currency hub, as reported by Bloomberg. While PayPal has previously leveraged its stablecoin—launched last year—for investments, this transaction represents its inaugural use of the token for bill payments.
Jose Fernandez da Ponte, PayPal’s SVP of blockchain, crypto, and digital currency, explained to Bloomberg that B2B transactions, particularly cross-border ones, often entail delays and high costs. In this context, stablecoins present a viable alternative. “The enterprise environment is very well-suited for it,” he stated. “It’s a very rational conversation to have with the CFO.”