FV Bank has launched the addition of PayPal USD (PYUSD) to its stablecoin services, marking another milestone in its mission to bridge traditional and digital banking.
This integration allows FV Bank account holders to receive PYUSD directly into their USD accounts with real-time conversion, streamlining cross-border payments and remittances.
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The bank’s new feature also enables outbound PYUSD payments without requiring users to mint the stablecoin or manage external wallets. Clients can initiate PYUSD payments from their USD accounts, with FV Bank automatically minting and delivering PYUSD to beneficiaries in near real-time.
FV Bank fosters itself as one of the few US-regulated banks that offer such a wide range of stablecoin options, having previously integrated Circle’s USDC and Tether’s USDT. Furthermore, this development strengthens the bank’s cross-border payment options, allowing customers to transact smoothly in USD, EUR, USDC, USDT, and now, PYUSD.
The inclusion of PYUSD offers customers a fast, cost-efficient alternative to traditional bank wires, with enhanced liquidity and real-time processing. Integrated blockchain analytics ensure transactions comply with anti-money laundering (AML) and sanctions regulations.
FV Bank’s latest move reinforces its leadership in integrating stablecoins into mainstream financial ecosystems. With this addition, customers gain access to enhanced digital financial solutions for treasury management and cross-border settlements.
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By GlobalDataMiles Paschini, CEO of FV Bank stated: “The integration of PYUSD deposits and payments, along with auto-conversion to and from USD is another key accomplishment in our commitment to provide the most comprehensive integrated banking service for our global customers. This additional deposit and payment option positions FV Bank as one of the only regulated banking institutions in the USA to offer blockchain-powered payment rails, as well as extensive stablecoin on-ramp and off-ramp services.”
