PayPal has made its U.S. dollar stablecoin, PYUSD, natively available on the Polygon network through the Polygon Open Money Stack. Announced on July 9, the integration provides businesses with direct access to regulated stablecoin payments, compliance tools, and fiat on- and off-ramps within a single system, eliminating the need to cobble together separate banking, blockchain, and compliance providers.
Paxos, the federally regulated trust company that issues PYUSD under the supervision of the Office of the Comptroller of the Currency, is facilitating the stablecoin's issuance on Polygon. The rollout comes ahead of the July 18 deadline for U.S. regulators to finalize the GENIUS Act stablecoin framework, underscoring the growing momentum for compliant digital currencies. “Bringing PYUSD natively into the Open Money Stack means a business can take money in, move it across borders, and cash it out in one integration, with compliance built in,” said Polygon Labs CEO Marc Boiron.
Businesses already processing payments on Polygon can accept PYUSD via bank accounts, exchange balances, or cards, settle transactions across borders, and convert funds into local currencies through regulated channels. The stack consolidates wallet, compliance, and fiat conversion services, reducing operational complexity and cutting costs. Polygon has handled over $2.6 trillion in stablecoin transactions to date and is used by companies such as Revolut and Stripe.
The move extends PYUSD's reach after PayPal and MoonPay launched the PYUSDx platform in February, which lets developers create stablecoins backed by PYUSD. It also follows Mastercard’s June decision to add PYUSD and five other regulated stablecoins to its settlement network across multiple blockchains, including Polygon.
