In short
- YouTube allowed US creators to receive earnings in PYUSD, according to an exclusive report from Fortune.
- Big Tech will only adopt new payment rails if they are “operationally mature and low friction,” one expert told Decrypt.
- The update follows Trump’s signing of the GENIUS Act, which will give stablecoins a federal framework and accelerate institutional adoption.
US creators will be allowed to receive their YouTube content earnings in the form of PayPal’s PYUSD stablecoin through a new cashout option.
May Zabaneh, head of crypto at PayPal, confirmed that the scheme is now live for US users Fortune exclusive.
The feature became available after PayPal added the ability for payment recipients to receive checks in PYUSD in the third quarter, with YouTube then expanding the option to its creator community.
The integration is part of the increasing mainstream adoption of stablecoins as payment infrastructure, potentially benefiting creators who want faster settlement times and less friction in cross-border transactions.
“Big Tech like YouTube will only adopt new payment rails if they are operationally mature and offer little friction,” Jakob Kronbichler, CEO and co-founder of Clearpool, an online lending marketplace, told me. Declutter.
With PayPal’s stablecoin infrastructure, he says platforms and makers can “access the benefits of on-chain settlement without introducing new custody or compliance challenges.”
“Once stablecoins are widely deployed on mainstream platforms, the question becomes what these balances can do next,” he added. “That’s where on-chain financing, from settlement to funding and returns, starts to unlock real efficiencies.”
“YouTube essentially lets PayPal handle the complexity while giving creators more payment choices,” Vedang Vatsa, founder of global crypto community Hashtag Web3, told me. Declutter.
“It seems like a practical first step that other companies could look at as they come up with their own approaches to stablecoins,” he added.
Declutter has contacted PayPal and YouTube for further comment.
President Donald Trump signed the GENIUS Act into law in July, and the stablecoin legislation is seen as a catalyst for institutional adoption in the sector.
Rohan Kohli, chief risk and compliance officer at Bastion, says Declutter that “this regulatory clarity is the foundation we are looking for for a thriving, stablecoin-powered financial system.”
“With this federal framework, the U.S. will promote institutional trust, competition and adoption,” he said.
Still, more than 80% of Myriad Markets users believe the stablecoin sector will struggle to surpass $360 billion before February, even as total stablecoin capitalization has risen to just above $313 billion.
Expanding PYUSD acceptance
Launched by PayPal according to CoinGecko, PYUSD will have a market cap of over $3 billion as of August 2023 facts.
In February, the company announced plans to integrate the stablecoin into its bill payment product for merchants and its Hyperwallet mass payments platform.
In September PYUSD extensive up to nine additional blockchains via LayerZero’s interoperability protocol, expanding its reach to networks like Aptos, Avalanche and Tron.
(Disclaimer: Myriad is owned by Decrypt’s parent company, Dastan.)
Daily debriefing Newsletter
Start every day with today’s top news stories, plus original articles, a podcast, videos and more.
