YouTube now allows creators to get paid in cryptocurrencies

Source: PortaldoBitcoin Original Title: YouTube now allows creators to get paid in cryptocurrencies Original Link: Content creators in the US can now receive their earnings from YouTube content via cryptocurrencies, specifically in PYUSD, PayPal’s stablecoin, through a new payment option.

May Zabaneh, PayPal’s head of cryptocurrencies, confirmed that the feature is already available to American users. The functionality was made available after PayPal added the PYUSD payment option during the third quarter, and YouTube subsequently extended the option to its creator community.

The integration is part of the growing adoption of stablecoins as a payment infrastructure, potentially benefiting creators seeking faster settlements and less friction in international transactions.

“Big tech companies like YouTube only adopt new payment systems when they are operationally mature and offer low friction,” said Jakob Kronbichler, CEO and co-founder of Clearpool, an on-chain credit marketplace.

With PayPal’s stablecoin infrastructure, he stated that platforms and creators can “access the benefits of on-chain settlement without introducing new custody or compliance challenges.”

“Once stablecoins are scaled across major platforms, the question becomes what these balances can do next,” he added. “That’s where on-chain finance, from settlement to financing and yield, begins to unlock true efficiency.”

“Basically, YouTube is letting PayPal handle the complexity while creators have more payment options,” said Vedang Vatsa, founder of the global cryptocurrency community Hashtag Web3.

“It seems like a practical first step that other companies might consider when defining their own approaches to stablecoins,” he added.

Stablecoin legislation is being seen as a catalyst for institutional adoption in the sector. Rohan Kohli, director of risk and compliance at Bastion, said that “this regulatory clarity is the foundation we’ve been looking for to build a prosperous, stablecoin-based financial system.”

“With this federal framework, the US will foster institutional trust, competition, and adoption,” he stated.

PYUSD Adoption Expansion

Launched by PayPal in August 2023, PYUSD has a market capitalization of over US$ 3 billion, according to CoinGecko data.

In February, the company announced plans to integrate the stablecoin into its bill payment product for merchants and its Hyperwallet platform for mass payments.

In September, PYUSD expanded to nine additional blockchains through LayerZero’s interoperability protocol, extending its reach to networks like Aptos, Avalanche, and Tron.