YouTube Introduces Stablecoin Payments for U.S. Creators via PayPal

According to ChainCatcher, YouTube has launched a new feature allowing U.S. creators to receive payments in stablecoins through PayPal. May Zabaneh, PayPal's head of cryptocurrency, confirmed that creators can now opt to receive their earnings in the form of PayPal's stablecoin, PYUSD. This feature is currently available only to users in the United States. YouTube has been a client of PayPal's payment services, utilizing them for payments to freelancers and contractors for large enterprises. In the early third quarter of this year, PayPal introduced the option for recipients to receive payments in PYUSD, prompting YouTube to offer this choice to its creators. Zabaneh highlighted that the advantage of this system is that YouTube does not need to engage directly with cryptocurrencies, as PayPal manages the complexities involved. This move indicates a growing interest in stablecoins among major tech companies.