#Bitcoin #Binance $BTC $USDC PAYPAL REVOLUTIONIZES CROSS-BORDER TRANSFERS WITH ITS CRYPTO

In a bold move that merges the efficiency of traditional finance with the innovation of blockchain technology, PayPal is breaking new ground in cross-border money transfers. Its US users can now use the stablecoin PayPal USD (PYUSD), its dollar-backed crypto, to fund international transfers without incurring transaction fees through the Xoom service.

Paypal revolutionizes cross-border transfers with its crypto

PayPal introduces transfers via its crypto

PayPal today announced a major innovation which should allow its users in the United States, with the exception of those residing in Hawaii, to use its crypto, PYUSD, to finance their international transfers. This new feature is made possible by PayPal's Xoom service, which now offers transfers without transaction fees to more than 160 countries.

The impact of this initiative is significant, especially in the current context where the costs of international money transfers remain high. By eliminating Xoom transaction fees for PYUSD-funded transfers, PayPal provides a more economical alternative for its users and effectively reduces the overall cost of sending money across borders.

What trajectory for cross-border payments?

The advancement has sparked keen interest among financial experts and blockchain enthusiasts, who see it as a giant step toward merging the worlds of traditional finance and crypto.