PayPal Completes First Business Transaction Using Own Stablecoin PYUSD, Paving the Way for Digital Payments

PayPal Holdings Inc. has made a significant move. They just completed their first business transaction using their own stablecoin, PYUSD. This is a big step in showing how digital currencies can simplify traditional payment processes.

On September 23, PayPal paid an invoice to Ernst & Young LLP. They used PYUSD for this transaction. It was facilitated through SAP SE's digital currency hub. This platform allows businesses to make instant digital payments anytime they need to.

The amount of the invoice hasn’t been shared, but the importance of this transaction is clear. PayPal is leading the way in demonstrating the practical use of digital currencies in the business world.

With this step, PayPal is not only innovating but also paving the way for more companies to explore digital payments. It’s an exciting time for the future of transactions!