YouTube, the world's largest video platform, has included stablecoins as a means of payment for content creators. This signals the full-fledged integration of global payment infrastructure and digital assets.
Fortune exclusively reported that YouTube has added an option for creators to receive payments in PayPal's dollar-pegged stablecoin, PYUSD (PayPal USD). Google confirmed the stablecoin payment option was introduced, but declined to comment on specifics about how it will operate or any plans for expansion.
YouTube is a leading global platform that has long used PayPal as a payment partner. It is also known to utilize PayPal's infrastructure for internal settlements, such as employee payroll. The introduction of the PYUSD option is seen as an opportunity to experiment with digital asset-based payments without significantly altering the existing payment structure.
PayPal emphasized the "elimination of the burden of direct cryptocurrency management" as a key benefit of this partnership. PayPal explained that by leveraging its infrastructure, YouTube can utilize stablecoins as a means of payment without having to handle complex cryptocurrency-related tasks like wallet management and blockchain operations.
The market sees this move as more than just a simple payment option; it marks the beginning of global big tech platforms embracing stablecoins as part of their formal financial infrastructure. In particular, the adoption of stablecoins in the creator economy is expected to significantly reduce cross-border settlement costs and improve payment speeds.
Meanwhile, PYUSD is a stablecoin pegged 1:1 to the US dollar, issued and managed directly by PayPal. It remains to be seen how stablecoins will fit into the revenue distribution structure of global platforms amidst the evolving regulatory landscape.
