PayPal expands crypto strategy after $486.4B quarter
- PayPal processed US$486.4 billion in second-quarter payments, up 10% from a year earlier.
- PayPal shares gained about 4% after its results and updated full-year guidance.
- The company placed PayPal USD inside its new Payment Services & Crypto division.
PayPal processed US$486.4 billion in second-quarter payments while expanding its stablecoin strategy around PayPal USD (CRYPTO:PYUSD).
Payment volume rose 10%, while revenue increased 5% to US$8.68 billion and net income fell 12% to US$1.10 billion.
PayPal CEO Enrique Lores said stablecoin and agentic payment capabilities “can support future growth” as the company develops more merchant products.
PayPal recorded US$81 million in combined losses on strategic investments and crypto assets, without separately disclosing the crypto portion.
Following the results, the PayPal share price was up about 4% as investors assessed its earnings and updated guidance.
PayPal created Payment Services & Crypto, combining PYUSD with Braintree, merchant processing and other services.
PYUSD supply stood near US$2.7 billion in early August, down from more than US$4 billion in March.
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