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FollowingPayPal\'s PYUSD stablecoin launches Polygon\'s open money stack
PayPal, a well-known financial technology company, is introducing its stablecoin PYUSD to the well-known blockchain platform Polygon. Integrating PYUSD into the Polygon open currency stack aims to expand compliant stablecoin payment scenarios.
According to an official PayPal press release, this development allows companies to use PYUSD for cross-border transfers while enjoying native compliance, simplified settlement infrastructure and regulated deposit and withdrawal channels. The launch comes as Polygon\'s stablecoin network continues to expand-its cumulative stablecoin supply has doubled in the past year to nearly US$2.6 trillion.
Before the GENIUS bill deadline, PayPal\'s PYUSD officially landed on the Polygon open money stack.
PayPal integrated PYUSD into the Polygon open money stack, just before the deadline (July 18) for U.S. regulators to reach conclusions on the GENIUS bill stablecoin model. This move highlights the growing momentum of compliant stablecoins. In addition, Paxos, the regulated financial entity responsible for issuing PYUSD, also provided support for the issuance of the stablecoin.
With Polygon\'s open money stack, companies can use PYUSD directly through the platform\'s integrated wallets, compliance tools and payment channels. This eliminates the need for companies to build a separate and exclusive infrastructure for fiat exchange, regulatory compliance and token management.
In the past, companies committed to deploying stablecoin payment solutions often relied on different service providers to provide banking services, blockchain connectivity and compliance systems. The Polygon Open Money Stack integrates services into one, allowing companies to complete collections through bank accounts, exchange balances, payment cards, transfer funds through PYUSD, and convert digital assets into local currency through regulated channels.
Driving compliant stablecoin applications with a powerful corporate payment network
This seamless infrastructure is expected to reduce operational complexity while reducing costs related to international payments. According to PayPal, companies can use fewer intermediaries and faster settlement times to improve the utility of stablecoin payments in a wider range of business scenarios.
Marc Boiron, CEO of Polygon Labs, said: \"Connecting PYUSD natively to the open money stack means that companies can complete funds entry, cross-border transfers and withdrawals in one integration, with built-in compliance features throughout the process.\" Peter Jonas, chief revenue officer of Paxos, expressed the same enthusiasm: \"As a regulated issuer of PYUSD, our role is to provide trustworthy stablecoins wherever companies or institutions need them.\"
Ultimately, although PYUSD is already running in multiple blockchain ecosystems, its local deployment on the Polygon open currency stack will further enhance its accessibility while consolidating its status as a compliant stablecoin financial services and enterprise-level digital payment platform.
