Stablecoins Take Another Step Forward: YouTube Allows Creators to Receive Revenue in PYUSD

Source: Fortune; Translation: Golden Finance

Large tech companies continue to cautiously explore the cryptocurrency space.

The latest example is video platform YouTube allowing content creators to choose to receive revenue shares in PayPal’s stablecoin PYUSD. May Zabaneh, Head of Cryptocurrency at PayPal, confirmed this arrangement to Fortune magazine and added that the feature is now live, but currently only available to users in the United States.

A Google spokesperson for YouTube confirmed that the platform has started using PayPal’s stablecoin PYUSD to pay creators but declined to comment further.

YouTube is already a client of PayPal and uses the fintech giant’s payment services, which help large enterprises pay gig workers and contractors.

In early Q3, PayPal added a feature allowing payees to receive checks in PYUSD. Zabaneh stated that subsequently, YouTube also decided to offer this option to content creators, enabling them to earn a portion of revenue from their content on the platform.

She added, “The beauty of the system we built is that YouTube doesn’t need to touch cryptocurrencies, so we can help eliminate that complexity.”

Large Tech Companies Turn Their Eyes to Stablecoins

Amid a wave of cryptocurrency enthusiasm in Silicon Valley and beyond, Google and other large tech firms have also shown interest in cryptocurrencies. YouTube’s interest in stablecoins emerged in this context.

These tokens, pegged to underlying assets like the US dollar, have long been part of the cryptocurrency industry. But in the past year, they have gained rapid popularity, especially after President Donald Trump signed a new law regulating crypto assets. Supporters see them as an upgrade to existing financial infrastructure, and large fintech companies have taken notice, including Stripe. In February this year, Stripe, a payments giant, acquired the stablecoin startup Bridge for $1.1 billion.

Among large tech companies, PayPal has been a pioneer in the cryptocurrency space. In 2020, it allowed users to buy and sell Bitcoin, Ethereum, and several other cryptocurrencies. In 2023, PayPal launched the PYUSD stablecoin, which, according to CoinGecko data, currently has a market cap approaching $4 billion.

PayPal has gradually integrated PYUSD into all its products. Users can store PYUSD in PayPal’s digital wallet and in Venmo, another financial app owned by PayPal. They can also use PYUSD to pay merchants. In February this year, a PayPal executive stated that small and medium-sized businesses would also be able to use PYUSD to pay suppliers.

The addition of PYUSD payment options on YouTube is not Google’s first attempt to use PayPal’s stablecoin. Previously, an executive from Google’s cloud computing division told Fortune magazine that the company had received payments from two clients made in PYUSD.