Xoom, PayPal’s cross-border money transfer service, announced today that U.S. users now have the option to fund money transfers to friends and family abroad using USD converted from PayPal USD (PYUSD), a U.S. dollar-denominated stablecoin.
Rolling out to customers in the U.S. starting today, the new funding option will allow U.S. Xoom users to easily convert the PYUSD in their linked PayPal Cryptocurrency Hub to USD and use that as a funding source to send money to recipients in approximately 160 countries globally with no Xoom transaction fees.
By introducing the option to fund cross-border money transfers with USD converted from PYUSD, Xoom now offers an easy and reliable way for U.S. users to send money abroad using PYUSD as a funding source. When this option is selected, Xoom will convert the PYUSD in a U.S. user’s PayPal Cryptocurrency Hub to USD currency with…
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