YouTube launches stablecoin payment feature, allowing creators to receive PYUSD via PayPal

According to Fortune, YouTube has launched a new feature for creators in the U.S. to receive stablecoin payments via PayPal. May Zabaneh, head of cryptocurrency at PayPal, confirmed that creators can now choose to receive platform revenue shares in the form of PayPal stablecoin PYUSD, a feature currently available only to U.S. users.

YouTube has previously been a client of PayPal's payment services, using it to provide payments for gig workers and contractors for large enterprises. At the beginning of the third quarter this year, PayPal added the option to receive payments in PYUSD for its payees, after which YouTube decided to offer this option to creators.

Zabaneh stated, "The advantage we built is that YouTube does not need to directly engage with cryptocurrency; we help eliminate that complexity." This move reflects the growing interest of large tech companies in stablecoins.