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.
