Shares of global payments giant PayPal (PYPL) climbed slightly after its PYUSD stablecoin launched natively on the Polygon (POL-USD) blockchain. The stock rose from around $44 to above $45 as investors reacted to the news.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
Notably, the move brings PYUSD to Polygon’s Open Money Stack, a set of tools for blockchain-based payments. It lets businesses send payments across borders, settle transactions, and convert funds all on one platform.
PayPal Expands PYUSD With Native Polygon Integration
Polygon announced on Thursday in an X post that PYUSD is now available natively on its network through Paxos, a regulated blockchain payments provider. The move lets users access PYUSD through Polygon’s wallets and payment systems, making it easier to send, receive, and use stablecoins for global transfers.
The integration also expands PYUSD’s role in Polygon’s growing payments network. Polygon said its network processes more than $2.5 billion in stablecoin payments daily and has settled over $2.6 trillion in stablecoin transfers. The blockchain is also used by top financial firms, including Stripe and Revolut.
