FV Bank, a U.S.-licensed digital bank, has announced the integration of PayPal USD (CRYPTO:PYUSD), a stablecoin, into its banking platform.
This new feature allows account holders to receive PYUSD directly into their U.S. dollar accounts, with automatic real-time conversion to USD.
The integration aims to simplify cross-border transactions and eliminate the need for external wallets or manual minting of stablecoins.
Customers can now send payments in PYUSD directly from their USD accounts, with FV Bank minting and delivering the stablecoin almost instantly to beneficiaries.
According to FV Bank CEO Miles Paschini, this integration reinforces the bank’s position as a regulated institution offering blockchain-powered payment solutions.
“The integration of PYUSD deposits and payments, along with auto-conversion to and from USD, is another key accomplishment in our commitment to provide the most comprehensive integrated banking service for our global customers,” Paschini stated.
The addition of PYUSD is designed to streamline global payment processes by reducing costs and processing times typically associated with traditional banking methods.
FV Bank has also implemented compliance tools, including blockchain analytics, to detect and pre-screen transactions linked to potential sanctions or anti-money laundering activities.
This ensures adherence to regulatory standards while enhancing security for users.
The bank's platform now supports deposits in multiple currencies, including USD, EUR, USDC, USDT, and PYUSD, and facilitates payments in 13 different currencies through local networks or SWIFT.
This expansion builds on FV Bank’s history of stablecoin adoption, following the addition of Circle’s USDC (CRYPTO:USDC) in September 2021 and Tether’s USDT (CRYPTO:USDT) in December 2024.
With this latest integration, FV Bank continues to enhance its offerings in the rapidly evolving digital finance landscape.
At the time of reporting, the PayPal USD (PYUSD) price was $0.9994.