PANews November 19 news, according to official news, payment giant PayPal announced that it will allow payment partners to settle cross-border remittances through Xoom using the stablecoin PayPal USD ( PYUSD ). Cebuana Lhuillier and Yellow Card will be the first payment partners to use PYUSD for settling cross-border remittances through Xoom, enabling them to leverage the advantages of blockchain technology in terms of cost and speed.
Xoom will use PYUSD to settle PayPal customers' cross-border remittances through Yellow Card's stablecoin payment channel, which will help optimize cross-border transactions, making them faster and cheaper. In addition, Yellow Card's payment capabilities will soon enable PayPal customers to send funds to friends and family in Africa, with the funds being deposited into their local African bank accounts or mobile money accounts.