🚀 PayPal just made its first business payment using its own stablecoin, PYUSD! The lucky recipient? Ernst & Young, through SAP’s digital currency hub. While the invoice amount remains a mystery, this move showcases the potential of stablecoins for instant corporate payments.

🪙 Launched in August 2023, PYUSD is backed by US dollar deposits and short-term US Treasurys, boasting a market cap of $699M. PayPal's blockchain VP, Jose Fernandez da Ponte, says it’s a “rational conversation” for CFOs.

With giants like Robinhood and Revolut eyeing the stablecoin market, the future looks stable and bright! 🌟