YouTube supports creators receiving payments with PYUSD, is the era of Big Tech's stablecoins here?

The world’s largest video platform YouTube recently officially launched a new option for U.S. creators to receive revenue using PayPal’s stablecoin PYUSD, marking a significant step for mainstream tech giants in crypto payment applications. This partnership was confirmed by PayPal’s head of crypto business, and its cleverness lies in YouTube itself not needing to handle cryptocurrencies directly—all complexities are managed by PayPal. Currently, with a market cap nearing $4 billion, PYUSD is moving from high-profile use cases like payments into consumer-facing cash flows, indicating that stablecoins are becoming foundational infrastructure that Big Tech is eager to adopt.

Event Analysis: A “Seamless” Crypto Integration

Recently, a landmark event took place at the intersection of the crypto industry and mainstream tech. According to Fortune magazine and confirmed by May Zabaneh, PayPal’s head of crypto, YouTube has officially enabled U.S. creators to choose to receive platform revenue in PYUSD, a stablecoin issued by PayPal. This feature is now live but currently limited to U.S. users.

The process of this collaboration reveals a typical path for large enterprises adopting crypto technology. As early as Q3 2025, PayPal added an option for its enterprise payment services to pay recipients in PYUSD. As a longstanding user of PayPal’s payment services, YouTube then decided to open this new option to its creators. Zabaneh highlighted the core advantage of this integration: “The beauty of what we’ve built is that YouTube doesn’t need to touch cryptocurrencies at all, so we can help eliminate that complexity.” This “backend integration, front-end seamless” model is likely to serve as a blueprint for other large internet platforms.

Executives from Google Cloud previously revealed that two clients are already using PYUSD to pay for their services. This indicates that YouTube’s move is not an isolated experiment within Google’s ecosystem but a continuation of Alphabet’s exploration of stablecoins’ practicality in business scenarios. From B2B settlements to B2C payments for content creators, PYUSD’s application scenarios are rapidly expanding.

What is PYUSD? Analyzing Its Rise and Ecosystem Ambitions

PYUSD, short for PayPal USD, is a stablecoin pegged 1:1 to the US dollar, launched by global payments giant PayPal in August 2023. Its issuance and custody are managed by licensed stablecoin infrastructure company Paxos. According to CoinGecko, as of press time, PYUSD’s total market cap is close to $4 billion, ranking sixth among global stablecoins, demonstrating strong market acceptance.

PYUSD was designed to serve daily commerce, aiming for seamless exchange, cross-border transfers, merchant payments, and near-instant settlement. Unlike purely financial stablecoins, PYUSD was born with PayPal’s deep commercial DNA. Its core goal is to reduce delays and volatility risks associated with traditional banking settlements, improving capital efficiency. Users can store it in PayPal’s digital wallet or use it within Venmo, another popular PayPal payment app.

To build a solid moat, PayPal is steadily integrating PYUSD into its entire product ecosystem. Beyond user holdings and payments, PayPal executives stated in February that in the future, small and medium-sized merchants will be allowed to pay suppliers with PYUSD. More importantly, PYUSD has gained recognition from traditional financial giants, successfully connecting to Visa’s stablecoin settlement platform. These moves clearly outline PayPal’s ambition: to develop PYUSD into a core settlement layer connecting digital native assets with the traditional large-scale business world.

PayPal’s Crypto Strategy and Key Nodes in the PYUSD Ecosystem

• 2020: PayPal enables users to buy and sell mainstream cryptocurrencies like Bitcoin and Ethereum.
• August 2023: Official launch of Paxos-issued USD stablecoin PYUSD.
• Q3 2025: Enterprise payment services add PYUSD payment options, laying the groundwork for YouTube collaboration.
• Recent developments: Market cap around $4 billion, integrated into Visa’s stablecoin settlement network, small and medium merchants’ payment plans advancing.

Big Tech’s Stablecoin Strategy: From Observation to Action

YouTube’s decision is no coincidence but a microcosm of the surging interest of Silicon Valley and global tech giants in stablecoins. After President Trump signed new legislation regulating cryptocurrencies, the narrative of stablecoins as an “upgraded” version of existing financial infrastructure gained mainstream recognition. Major platforms like Apple, Airbnb, and X (formerly Twitter) are actively exploring stablecoins as efficient payment channels.

Behind this wave is Big Tech’s pursuit of enhancing payment efficiency, reducing costs, and expanding ecosystems. Stablecoins, especially those issued by reputable large fintech companies like PYUSD, offer programmable, cross-border, real-time settlement solutions with relatively transparent fees. For platforms with vast global users and creators, their appeal is evident. In February, another payments giant Stripe acquired stablecoin startup Bridge for $1.1 billion, highlighting the intensifying competition among traditional fintech firms in this field.

It is also noteworthy that the shifting regulatory environment in the U.S. provides more flexible testing grounds for innovation. The new chair of the SEC has publicly stated that most crypto assets should not be classified as securities and proposed reforms including “innovation exemptions” in sandbox mechanisms. Although some decentralized communities criticize these sandbox mechanisms as contrary to openness, they undoubtedly offer valuable policy windows for companies like PayPal and YouTube that are eager to experiment while prioritizing compliance. Clarified regulations are accelerating the flow of capital and talent back into the industry.

Industry Impact and Future Outlook: A Paradigm Shift in Creator Economy

YouTube’s adoption of PYUSD payments will have a profound impact primarily on the global creator economy. For millions of content creators, this means a faster, potentially cheaper way to receive funds, especially beneficial for cross-border collaborations or creators with international audiences. This is not just a simple addition of a payment tool but could also foster new interaction and monetization models based on smart contracts, such as automated revenue sharing and instant fan tipping, pushing the Web2 creator economy toward a more efficient Web3 paradigm.

From a broader perspective, this partnership marks a key leap for stablecoins moving from crypto-native circles into mainstream large-scale applications. When platforms with billions of daily views start accepting stablecoins, the educational and demonstrative significance far exceeds any marketing effort. It sends a clear signal to the market: stablecoins are no longer just speculative tools; their value as practical payment instruments is being validated and adopted by top tech companies. This could accelerate other social media, content platforms, and SaaS providers to evaluate and integrate similar crypto payment solutions.

Looking ahead, a new era of stablecoins led by major tech companies and financial giants is emerging. Competition will not only be about issuing stablecoins but also about building a complete ecosystem centered on stablecoins, covering savings, payments, investments, and business services. For pioneers like PayPal, collaboration with YouTube is a crucial step in ecosystem expansion; for the industry, it is a vital stress test, examining blockchain networks’ performance, stability, and user experience in handling massive, high-frequency, micro real-time payments. The results of this experiment will profoundly influence the global digital payment landscape over the next decade.