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YouTube, the world's largest video app, has introduced cryptocurrency as a payment option for content creators.
Accordingly, PayPal has introduced the option to pay content creators in the United States using its stablecoin ($PYUSD).
According to Fortune, YouTube has added an option for content creators to receive their earnings in PayPal's stablecoin $PYUSD.
PayPal's head of cryptocurrency, May Zabaneh, said the following in an interview with Fortune:
“The feature that allows YouTube content creators to receive their earnings in $PYUSD has already been rolled out and is currently only available to US users.”
It was also noted that PayPal's infrastructure allows YouTube to offer a cryptocurrency option without needing to directly process digital assets.
Google also confirmed that YouTube has added a $PYUSD payment option, but declined to comment on details.
It has also been reported that YouTube has been a long-time PayPal customer and uses PayPal's large-scale payment services for employee salary payments.
PayPal has supported the trading of major digital assets such as Bitcoin and Ethereum since 2020, and launched its own stablecoin, $PYUSD, in 2023. $PYUSD currently has a market capitalization of approximately $4 billion.
*This is not investment advice.