PayPal moves $1 billion between its own subsidiaries in hours using PYUSD

PayPal says it can now move $1 billion in intercompany dividend payments in two hours using stablecoins. The capability comes from a pilot program in which PayPal Holdings used its PYUSD stablecoin to settle more than $1 billion in transfers between its US and international subsidiaries. Settlements that would normally drag on for days wrapped up in hours, spanning three continents. How the pilot worked The company set up dedicated on-chain wallets for the transfers. Instead of waiting on traditional settlement windows, value moved directly between those wallets in PYUSD, a stablecoin pegged to the US dollar. Notably, this was not a sprawling engineering moonshot. A small treasury team ran the program, working closely with PayPal’s legal and accounting departments. Part of a bigger treasury overhaul The PYUSD experiment sits inside a broader treasury modernization push at PayPal. The goals include streamlining operations, improving visibility into the company’s liquidity, and automating processes through artificial intelligence. The effort has drawn industry recognition. PayPal won both the Overall Winner title and Best in Class Treasury Solution at the 2026 Adam Smith Awards. The ...