FV Bank, a US-licensed digital bank, has enhanced its stablecoin offerings, enabling account holders to convert PayPal USD (PYUSD) into USD in real time. This development strengthens FV Bank’s position as a leader in integrating traditional and digital asset banking services.
Building on its integration of Circle’s USDC in 2021 and Tether’s USDT in 2024, FV Bank now offers a broader range of deposit options, including USD, EUR, USDC, USDT, and PYUSD. Customers can also send payments in 13 currencies from their USD accounts via local networks or SWIFT, improving cross-border treasury management.
FV Bank account holders can now initiate outbound PYUSD payments directly from their USD accounts without managing external digital wallets. The bank’s real-time processing system debits USD, mints PYUSD on demand, and delivers payments instantly to beneficiaries, simplifying transactions and enhancing efficiency.
Miles Paschini, CEO of FV Bank, highlighted the importance of this feature, stating:
“The integration of PYUSD deposits and payments, along with auto-conversion to and from USD, reflects our commitment to providing comprehensive, integrated banking services for global customers. This positions FV Bank as one of the few regulated banking institutions in the USA offering blockchain-powered payment rails and extensive stablecoin on-ramp and off-ramp services.”
PYUSD offers FV Bank customers a liquid and efficient solution for direct deposits and instant payments. The ability to convert PYUSD to USD instantly helps global users save on traditional bank wire fees and processing times.
FV Bank’s PYUSD services incorporate advanced blockchain analytics tools to ensure regulatory compliance, pre-screening transactions for potential sanctions or AML activities.
With this latest feature, FV Bank continues to lead the way in integrating blockchain technology with regulated banking, providing a seamless experience for customers seeking innovative financial solutions.
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