PYUSD available to all Venmo users ‘in the coming weeks’

PYUSD on Venmo comes over a month after its release

article-image

Viacheslav Lopatin/Shutterstock modified by Blcokworks

share

PayPal’s stablecoin, PYUSD, is now available on Venmo.

The company announced the rollout in a blog post on Wednesday, Sept. 20. However, not all users will be able to purchase or send PYUSD to their friends or family, as only select users were picked this time around. PayPal did note that it will fully roll it out in the “coming weeks.”

“Individuals using compatible external wallets, and merchants accepting payments in PYUSD, will also be able to receive transfers from Venmo users. Blockchain network fees apply,” the blog post said.

Read more: PayPal’s new stablecoin stirs centralization criticism

The move comes after the company’s stablecoin was added to the New York State’s Department of Financial Services greenlist. Earlier this week, the NYDFS shuffled the list, removing tokens such as XRP and Doge.

Read more: The PayPal stablecoin is bigger news than any bitcoin ETF

Outside of Venmo, PYUSD is available on MetaMask, Kraken, Coinbase, Crypto.com, and Fireblocks, among others — including other crypto exchanges, wallets and custodians.

PayPal announced the stablecoin in early August. The dollar-backed stablecoin is issued by Paxos Trust. PYUSD is a blockchain-based digital asset issued on Ethereum as an ERC-20 token.

“The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the US dollar,” said Dan Schulman, PayPal’s president and CEO, at the time.

Paxos is expected to publish a monthly Reserve Report on the stablecoin, and an attestation of the “value of PayPal USD reserve assets.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /