US PayPal customers will be able to use stablecoin for international payments

PayPal said it’s rolling out a new service that allows U.S. clients to send cross-border money transfers using the company’s PYUSD stablecoin.

U.S. users of the company’s international payments service, Xoom, can convert PYUSD to USD and then send money to “recipients in approximately 160 countries” without being charged transaction fees.