PayPal USD (PYUSD) has become natively available on Polygon through the Polygon Open Money Stack, giving businesses direct access to the regulated stablecoin across payment, compliance and fiat conversion services.
Summary
- PayPal USD is now issued natively on Polygon through the Open Money Stack, giving businesses direct access to regulated stablecoin payments and settlements.
- The integration combines wallets, fiat ramps and compliance tools into a single system to simplify cross border payments and local currency payouts.
- The launch extends PayPal’s PYUSD expansion after February’s PYUSDx platform and follows Mastercard’s decision to support PYUSD for stablecoin settlements across multiple blockchains.
According to a press release shared with crypto.news, Paxos-issued PYUSD is now issued natively on Polygon and integrated into the Polygon Open Money Stack, allowing businesses already processing payments on the network to access the stablecoin through the wallets, fiat ramps and compliance tools they already use.
Native PYUSD arrives on Polygon
According to Polygon Labs, the integration removes the need for businesses to connect separate providers for stablecoin issuance, fiat on and off ramps, compliance, and payment infrastructure. Instead, companies can accept payments from cards, bank accounts or exchange balances, settle in PYUSD across borders and convert funds back into local currencies through a single integration.
The company said the simplified setup reduces engineering work, lowers operating costs and speeds up settlement by combining regulated fiat access and compliance services within the same payments infrastructure.
Polygon Labs noted that its network has settled more than $2.6 trillion in stablecoin transactions to date and is already used by companies including Revolut and Stripe. Businesses already running payments on Polygon can now access PYUSD without changing their existing infrastructure, the company added.
Businesses target cross-border payments
According to Polygon Labs, businesses such as payroll providers, online marketplaces and remittance platforms could use PYUSD to pay contractors, settle with international sellers and move money into overseas markets without building their own banking and compliance systems. The company said end users could benefit from quicker payouts, fewer failed transactions and faster conversion into local currencies.
PYUSD is issued by Paxos under a national trust charter supervised by the Office of the Comptroller of the Currency, making it one of the largest U.S. dollar stablecoins issued by a federally regulated entity. Polygon Labs said pairing the regulated stablecoin with its licensed fiat ramps provides businesses with a compliant path between traditional financial systems and on-chain settlement.
“A stablecoin is only as useful as the places it can go and what it can do when it gets there,” Polygon Labs CEO Marc Boiron said, adding that bringing PYUSD into the Open Money Stack allows businesses to receive payments, move funds across borders and cash out through a single integration with compliance built in.
“PYUSD is issued under a national Trust charter supervised by the OCC, and bringing it natively to Polygon puts a federally regulated, dollar-backed stablecoin on one of the most active networks for stablecoin payments. Businesses running on the Open Money Stack can now settle in PYUSD with confidence in the compliance and regulatory oversight that serious money requires,” Peter Jonas, chief revenue officer at Paxos, added.
The rollout adds another expansion for PYUSD after PayPal and MoonPay introduced the PYUSDx platform in February, allowing developers to launch application-specific stablecoins backed by PYUSD without building payment infrastructure from scratch. At the time, the companies said growing stablecoin adoption had increased demand for faster deployment of custom digital currencies.
The launch also follows Mastercard’s June decision to add PYUSD alongside five other regulated dollar-backed stablecoins to its settlement network across multiple blockchains, including Polygon. Mastercard said the service would allow participating financial institutions to settle card transactions outside traditional banking hours while maintaining its existing security and compliance standards.
