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FollowingPayPal announces second-quarter results, reorganizes and establishes its cryptocurrency division
PayPal reported on July 28 that total payments in the second quarter reached US$486.4 billion, a year-on-year increase of 10%. At the same time, the company confirmed that it would restructure and separate the cryptocurrency business into a department.
The division is called "Payment Services and Cryptocurrencies", alongside "Checkout Solutions and PayPal" and "Consumer Financial Services and Venmo." In the same report, PayPal listed stablecoins as one of the three major areas it is expanding under the framework of "innovation and discipline". The other two areas are proxy commerce and identity and biometric technology.
The cost of holding cryptocurrency reached US$81 million
In addition, the company's revenue was US$8.68 billion, a year-on-year increase of 5%. Non-GAAP earnings per share were $1.38, compared with analysts 'expectations of approximately $1.28. Trading profit increased 1% to $3.9 billion, with adjusted free cash flow of $1.83 billion. PayPal raised its full-year trading profit guidance to approximately $15.6 billion and raised the lower limit of its earnings per share forecast to approximately $5.38.
During the quarter, a net loss from strategic investments and crypto assets used for investment was US$81 million, which was added back when adjusting for non-GAAP net income. The figure was $74 million in the first quarter. In PayPal's full-year 2025 GAAP earnings per share, this portfolio brought a positive impact of approximately US$0.14.
In mid-July, PYUSD supply was approximately US$2.8 billion, down from more than US$4 billion in March. The token was natively launched on the Polygon network through issuer Paxos on July 9, and PayPal said the stablecoin has covered 70 markets. YouTube began paying U.S. creators in PYUSD in December. Research shows that PYUSD and Societe Generale have small market shares in EURCV, while USDT and USDC account for 93.5% of the supply of fiat collateralized stablecoins.
CEO reorganizes company after rejecting Stripe
CEO Enrique Lores, who took over from Alex Chriss on March 1, aims to achieve at least US$1.5 billion in total annual operating cost savings over the next two to three years, of which approximately US$400 million will be achieved before the end of the year. The plan, which will last until 2029, covers three major drivers: simplified structure, operational and portfolio optimization, and accelerated artificial intelligence applications, which are expected to bring about 40% cost savings to the company.
