Fortune reported that YouTube is allowing creators to be paid in PayPal’s stablecoin, a potential boon for adoption due to the platform’s size.
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Video-sharing giant YouTube has reportedly enabled US-based creators to accept payouts in PayPal’s stablecoin, PYUSD.
Fortune on Thursday that PayPal’s head of crypto, May Zabaneh, said the feature is live, but only for users in the US. The firm integrated the ability for recipients to accept payments in PYUSD earlier this year, with YouTube ultimately opting to open that choice up to its creators.
“The beauty of what we’ve built is that YouTube doesn’t have to touch crypto and so we can help take away that complexity,” she said.
PayPal has had a long-standing relationship with YouTube, allowing users to pay via its services for many years and utilizing it for creator AdSense payouts.
YouTube may be warming up to crypto, after its , as digital assets are making their way into the mainstream. The move could also be a potential boon for , given the size of YouTube’s platform.
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The stablecoin market has exploded over the past year as mainstream businesses, institutions and have moved to with traditional finance.
PSYUD was launched in mid-2023 and has a current market cap of $3.9 billion according to CoinGecko data. It has since the start of the year, increasing from around $500 million in January.
A significant portion of PYUSD’s growth has occurred since the start of September, when its market cap was approximately $1 billion. During that month, PYUSD was integrated with and , an institutional-grade stablecoin blockchain.
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