- Paypal plans to launch a new platform called PayPal World in the fall, connecting domestic payment wallets to its global merchant network.
- The service will let users of platforms like UPI, WeChat Pay, and Mercado Pago pay international PayPal and Venmo merchants without setting up new accounts or using cards.
- The system will use traditional currency infrastructure rather than blockchain, but aims to provide fast settlement and currency conversion like stablecoins.
- This move aligns with PayPal’s ongoing support for its own stablecoin, PYUSD, which recently expanded to new blockchain networks.
- Experts say the platform acts as a bridge between legacy financial systems and may improve fiat payments, but it will not replace stablecoins for all use cases.
PayPal announced it will introduce a new platform in the fall that enables users of domestic digital wallets to connect to its global merchant network. The service, called PayPal World, will allow people using payment apps like India’s UPI, China’s WeChat Pay, and Brazil’s Mercado Pago to make purchases from overseas merchants who accept PayPal or Venmo.
The company stated that users will not need to open new accounts or use credit or debit cards to complete these transactions. According to PayPal president and CEO Alex Chriss, the platform aims to simplify cross-border payments for nearly two billion users. “Moving money across borders is incredibly complex, and this platform is designed to make it simple for nearly two billion users,” Chriss said in a statement.
While PayPal World does not run on blockchain networks or use tokenized assets, it is designed to offer some similar benefits to stablecoins like fast settlement and currency conversion. The payments company did not share details on how this platform fits with its broader crypto efforts.
PayPal said the service is intended to support use cases such as AI-powered shopping and wallet-based transactions driven by agents. Once live, PayPal World will support in-person, online, and peer-to-peer payments, focusing first on interoperability between wallets and the current merchant network.
Recently, PayPal expanded its PYUSD stablecoin to the Solana Blockchain, adding to its presence on Ethereum and announcing plans for Stellar. This follows the U.S. Securities and Exchange Commission’s decision to close a 15-month probe into PYUSD in April.
Some experts said PayPal World could address similar problems as stablecoins but emphasized its reliance on legacy financial systems. “It’s a bridge between legacy fiat systems, not a leap into the future of money,” said Gitay Shafran, founder of The Fedz. Others pointed out that, unlike stablecoins, the platform will still depend on traditional bank infrastructure and settlement processes. Stablecoins may remain preferable for micro-payments, cross-blockchain transfers, and regions without reliable banking, according to Andrei Grachev of Falcon Finance.
PayPal said its new platform is ready to support newer technologies like dynamic payment interfaces and stablecoins in the future.
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