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FollowingPayPal's second-quarter revenue exceeded expectations, and PYUSD expanded to 70 markets and included in the Kraken roadmap.
PayPal Holdings reported second-quarter revenue of $8.68 billion, exceeding Wall Street's forecast of $8.47 billion. Adjusted earnings per share were $1.38, also above analysts 'expectations of $1.28, while GAAP earnings per share reached $1.26. The payments giant's latest earnings report highlights the strong performance of its payments ecosystem and key adjustments related to its cryptocurrency investments.
PayPal's stablecoin and cryptocurrency layout
The company excludes $81 million in strategic investment and digital asset-related losses from non-GAAP earnings calculations. PayPal said the assets included in the loss were investment held and were not directly used for daily operations or customer transactions. The move separates the impact of market-driven asset valuation changes from PayPal's core operating results.
In recent quarters, PayPal management has been emphasizing expanding its digital asset program. The launch of its own stablecoin PYUSD goes hand in hand with core growth projects such as brand checkout optimization, Venmo applications and digital authentication tools. PayPal describes its strategy as integrating digital dollars into its broader payment system for settlement, rather than using cryptocurrencies as financial reserves or speculative assets.
Adjusted earnings per share for the second quarter reached $1.38, exceeding market expectations of $1.28, and revenue also exceeded expectations. The $81 million investment holding loss was excluded from non-GAAP results, reflecting PayPal's view of these assets as a separate part of its core payments business.
The full-year adjusted earnings per share forecast was raised to approximately $5.38. PayPal's trading profit increased to $3.9 billion, but adjusted operating margins narrowed due to product portfolio adjustments and increased investment in new businesses. Increased transaction volume supported overall revenue, with total payments increasing by 9% to US$486.4 billion on a neutral exchange rate basis.
PYUSD Expansion and Kraken Network Development
PYUSD is a stablecoin issued in cooperation with Paxos and backed by cash, U.S. Treasury bonds and similar equivalents. The token is designed to be redeemed 1:1 with the U.S. dollar, and PayPal aims to make it a seamless digital settlement layer. The company has opened up access to PYUSD in approximately 70 markets, a significant step from its original launch in the United States and the United Kingdom. This extension allows eligible account holders to hold, send, receive and transfer PYUSD, and enables some reward features based on regional conditions.
Kraken, one of the world's largest cryptocurrency exchanges, has included PYUSD based on the Stellar network in its future expansion roadmap. Although the exchange confirmed the listing of the token in its development plan, it has not yet confirmed the immediate opening of PYUSD trading or recharge functions on the Stellar network. Kraken currently supports PYUSD on Ethereum and Solana networks, providing more channels for the flow of digital dollars.
(Note: Paxos is a regulated blockchain infrastructure platform that serves as an issuer of a variety of stablecoins, including PYUSD, providing asset-backed tokens, compliance and transparency services to institutions and retail partners.)
This gradual expansion supports PayPal's efforts to combine stablecoins with proxy payments. Proxy payments Use software agents to securely perform payments within user-set limits. These features are designed to support automated transactions, subscription payments, and vendor payments for consumers and merchants.
PYUSD supports network status: Ethereum (online), Solana (online), Stellar (planned, pending official release).
As PayPal advances this strategy, the company is also advancing projects in areas such as digital identity, biometric authentication, and widespread global distribution through partnerships and regional product promotion. Expanding PYUSD (subject to regulatory requirements) through platforms such as PayPal World and Venom aims to increase the use of digital dollars in day-to-day commerce while minimizing operational risks directly facing fluctuations in the cryptocurrency market.
