"Big Tech continues to tiptoe into crypto. The latest example is a move by YouTube to let creators on the video platform choose to receive payouts in PayPal's stablecoin. The head of crypto at PayPal, May Zabaneh, confirmed the arrangement to Fortune, adding that the feature is live and, as of now, only applies to users in the U.S. A spokesperson for Google, which owns YouTube, confirmed the video site has added payouts for creators in PayPal's stablecoin but declined to comment further."
"YouTube is already an existing customer of PayPal's and uses the fintech giant's payouts service, which helps large enterprises pay gig workers and contractors. Early in the third quarter, PayPal added the capability for payment recipients to receive their checks in PayPal's stablecoin, PYUSD. Afterwards, YouTube decided to give that option to creators, who receive a share of earnings from the content they post on the platform, said Zabaneh. "The beauty of what we've built is that YouTube doesn't have to touch crypto and so we can help take away that complexity," she added."
"YouTube's interest in stablecoins comes as Google and other Big Tech companies have shown interest in the cryptocurrencies amid a wave of hype in Silicon Valley and beyond. The tokens, which are pegged to underlying assets like the U.S. dollar, are longtime features of the crypto industry. But over the past year, they've exploded into the mainstream, especially after President Donald Trump signed into law a new bill regulating the crypto assets. Proponents say they are an upgrade over existing financial infrastructure, and big fintechs have taken notice, including Stripe. In February, the payments giant closed a blockbuster $1.1 billion purchase of the stablecoin startup Bridge."
YouTube now offers U.S. creators the option to receive payouts in PayPal's stablecoin, PYUSD, through PayPal's payouts service. PayPal's head of crypto, May Zabaneh, confirmed the feature is live and said YouTube did not need to integrate crypto directly. YouTube is already a PayPal customer and uses its payouts service for enterprises, gig workers and contractors. PayPal earlier added the ability for payment recipients to receive checks in PYUSD. Big Tech companies including Google and Stripe have shown growing interest in stablecoins, which are pegged to assets like the U.S. dollar and have seen increased mainstream attention after new U.S. crypto regulation.
Read at Fortune
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