Big tech companies continue to get involved in the crypto space. The latest example is Youtube Give creators on the video platform the option to receive payments in PayPal’s stablecoin. May Zabaneh, PayPal’s head of cryptocurrency operations, confirmed the arrangement wealthadding that the feature is now live and currently only available to US users
spokesman GoogleYouTube, which owns YouTube, confirmed that the video site has increased payments to creators via PayPal’s stablecoin but declined to comment further.
YouTube is already an existing PayPal customer and uses the fintech giant’s payments service, which helps large businesses pay gig workers and contractors.
At the beginning of the third quarter, PayPal added the ability for payment recipients to receive checks via PayPal’s stablecoin PYUSD. Later, Zabaneh said, YouTube decided to offer this option to creators, who can earn a certain amount of revenue from the content they publish on the platform.
“The beauty of what we’ve built is that YouTube doesn’t have to touch cryptocurrency, so we can help remove that complexity,” she added.
Big tech companies eye stablecoins
YouTube’s interest in stablecoins follows performance from Google and other big tech companies interest Amid the wave of cryptocurrency hype in Silicon Valley and beyond.
These tokens, which are pegged to underlying assets such as the U.S. dollar, are a long-standing feature of the cryptocurrency industry. But over the past year, they have become mainstream, especially after the election of President Donald Trump sign New bill regulating crypto assets becomes law. Proponents say they are an upgrade to existing financial infrastructure, and big fintech companies have taken notice, including stripewith a closing price of $1.1 billion in February Buy Founder of stablecoin startup Bridge.
PayPal has long been an early mover in cryptocurrency among big tech companies. In 2020, it allowed users to buy and sell Bitcoin, Ethereum, and a few other cryptocurrencies. Moreover, it launched the PYSUD stablecoin in 2023. According to data, the current market value of this stablecoin is nearly US$4 billion. Coin Gecko.
PayPal has slowly integrated PYUSD into its stable of products. Users can save it in their digital wallets as well as Venmo, another financial app also owned by PayPal. they can use it to pay merchant. In February, a PayPal executive explain Small and medium-sized merchants will be able to use it to pay suppliers.
YouTube’s addition of payment options in PYUSD is not Google’s first foray into PayPal’s stablecoin. An executive at Google Cloud, the tech giant’s cloud computing arm, previously Tellwealth It has received payments in PYUSD from two customers.