PayPal stablecoin strategy expands after $486.4B quarter

PayPal reported its second-quarter results on July 28, saying total payment volume reached $486.4 billion for the three months ended June 30. Summary PayPal processed $486.4 billion in second-quarter payment volume, rising 10% from the prior year period. The company created Payment Services & Crypto, grouping PYUSD with Braintree and merchant processing operations. PYUSD supply stood near $2.7 billion, below the more than $4 billion recorded in March. That was up 10% from a year earlier, or 9% on a currency-neutral basis. The company also placed stablecoins inside its formal innovation plan and confirmed a three-business structure that includes Payment Services & Crypto. The organizational shift gives crypto a clearer place inside PayPal, but it is not a stand-alone digital asset business. The division also includes Braintree, small-business processing and value-added merchant services. PayPal said the model is designed to combine those capabilities with crypto products, including PayPal USD. PayPal’s Q2 results give the crypto unit a larger base Net revenue rose 5% to $8.68 billion, while transaction margin dollars increased 1% to $3.9 billion. Adjusted free cash flow reac...