PayPal Aims for 20 Million Merchants on PYUSD by 2025

PayPal has set an ambitious goal to have 20 million merchants using its PYUSD stablecoin by the end of 2025. The company announced this during its investor day in New York, where executives shared plans to expand the use of PYUSD beyond its current experimental status.

One of the key initiatives is to offer PYUSD as an option for merchants to pay vendors through PayPal's bill-pay product. This feature is expected to launch this year and will enable merchants to invite vendors into the PayPal network for transactions. This move aims to reduce friction over currency conversion and potentially reduce transaction times for cross-border payments.

PayPal has already made progress with PYUSD, completing its first business transaction last year, just a year after revealing plans for the stablecoin. As stablecoin legislation in the U.S. gains regulatory clarity, PayPal expects more businesses to adopt PYUSD.

In addition to integrating PYUSD with existing lines of business, PayPal is also looking to expand its entire product suite. The company plans to ramp up Hyperwallet, a business it acquired in 2018, to make PYUSD a direct payment option on the platform by the end of Q2.

PayPal CEO Alex Chriss stated that the company is working on bringing together its various acquisitions and products to create a more cohesive offering. In line with this, PayPal has set a target to grow its earnings by 20% by 2027.