Payment giant PayPal plans to integrate its PYUSD stablecoin into more products for small and medium-sized businesses by the end of the year, Bloomberg reports.

According to Michelle Gill, head of the company’s small business and financial services division, the goal is to simplify payments between over 20 million entrepreneurs and their suppliers through a unified platform.

To achieve this, PayPal is developing a bill payment tool that will allow businesses to onboard partners into the company’s crypto ecosystem. Gill noted that a significant portion of these transactions will involve cross-border payments.

Using PYUSD will help avoid currency conversion, reduce transaction times, and eliminate additional fees.

In the coming months, the company also plans to enable support for its stablecoin in global payouts via Hyperwallet. By year-end, PayPal aims to introduce cryptocurrency payment options for its checkout operations.

According to CEO Alex Chriss, blockchain’s potential is truly realized when users start spending digital assets, despite ongoing discussions about its adoption for decades.

As of writing, the total market capitalization of issued PYUSD stands at $703.55 million, according to DeFi Llama.

Daily trading volume is $36 million, according to CoinGecko. PYUSD ranks 10th in the platform’s stablecoin category.

Recall that in September 2024, PayPal enabled corporate clients in the U.S. to buy, hold, and sell cryptocurrencies directly from their business accounts.