PayPal Completes First Commercial Transaction Using Its PYUSD Stablecoin

Odaily News According to Bloomberg, PayPal has completed its first commercial transaction using its PYUSD stablecoin. The Silicon Valley-based digital payment company said it paid an invoice to multinational accounting firm Ernst & Young. PayPal relied on the enterprise-level digital currency center to complete the transaction when paying the invoice. The payment amount is unknown and the funds have been deposited into the accounting firm's Coinbase account. Steve Everett, director of market development at PayPal, said: "B2B payments are ripe for innovation, and digital currencies can provide incredible value in these use cases."