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PayPal enables use of PYUSD in cross-border transfers for Xoom users Xoom users in the US can convert PYUSD into USD and send money to 160 countries. Xoom, the international money transfer platform of payments processing giant PayPal, has announced that it now supports the use of PayPal USD (PYUSD) as a funding option for users in the United States. In an announcement today, the cross-border money transfer platform said eligible US users can now convert PYUSD into US dollars when looking to send money to friends and family. PayPal expands PYUSD adoption PayPal USD is a USD dollar-denominated Stablecoin that PayPal launched in August 2023 and its use on Xoom will now see US users able to send money across borders to 160 countries. There’s no crypto sale fee when converting PYUSD to USD and no Xoom transaction fees, the platform announced. “ When we decided to bring PayPal USD to market, we had two objectives we wanted to achieve: create som...

Adoption certainly did not take a backseat despite the ongoing bear market in the crypto -verse. While the market witnessed the departure of several “tourists“, prominent firms continued to reside in the crypto town. Payments giant PayPal for instance was doubling down on its Bitcoin bet. PayPal’s inclination towards the crypto industry is certainly not news. More recently, the firm revealed that it was broadening its crypto services as it was veering into Luxembourg. According to the payment giant, Luxembourg’s customers would be allowed to purchase, sell and hold crypto in their PayPal accounts. This list includes Bitcoin [BTC], Litecoin [LTC], Ethereum [ETH] as well as Bitcoin Cash [BCH]. These assets can be held through the website or PayPal’s mobile app. This service will go live in Luxembourg in the next few days. Following this, eligible customers will be able to purchase crypto for as little as €1 on PayPal. Customers will be asked to...