[Music] Hello everyone. Good afternoon. Uh I'm Subu. I represent PayPal here, specifically PayPal USD. Uh first of all, thank you for taking time and listening to us, whether it's virtually or uh here in person.
So today for the next 20 minutes I'll take you through what is PYUSD and what is PayPal to some of the folks. It's not a household name in Asia. So I'll take you through what is PayPal, what I've been what we have been trying to do in the crypto space for the last four years and then jump into what is PD, what are we looking for specifically from the comm community and what what can we take back as feedback and how can we help you adopt PD right? Uh so first introducing PayPal. Uh PayPal is um household name in US, some parts of Europe uh and and some parts of uh UK as well.
Um in Asia and uh in India we have a very limited business. Uh but these are the other brand names that comes under PayPal. Venmo. Venmo is a social payments app. You guys would would have known.
Zoom. Zoom is known for our crossber payments uh across 200 countries. Consumer crossber remittances and payments. Zetel helps with the payments and POSOS. Hyperwallet is a global payout solution for paying out rebates, salary across the globe, right?
That kind of use cases and Honey for uh ads and cash backs etc. right? So, PayPal at the end of the year 2024, uh, we have close to 444 million active customers and merchants and we did a total payment volume of 1.68 trillion. We moved so much money across the globe.
Um, and we did close to 26 or 27 billion transactions uh through the year, right? So, that's the overarching uh PayPal for you. uh people specifically in crypto. Um we started in 2020 sometime in 2020 uh October 2020 is when we offered our first product offering to buy, sell and hold crypto specifically in the US market across PayPal and Venmo, right? And we constantly listen to the consumers on what they are looking for in the crypto space because there are a lot of stakeholders.
There is a customer, there is merchant and there's a community. So we keep on a watch on that and after a few months we enabled checkout using crypto in PayPal and Venmo right then we introduced crypto transfers which includes peer-to-peer transfers you know transfers for goods and services etc. And then that's about the time where we had the crypto winter right uh there were a lot of volatility in the market and we were listening to the customers merchants and consumers and we realized um some of the currencies like Bitcoin and Ethereum might not be made for commerce right and after listening to that we introduced our own stable coin which is PUSD in August 2023 right and then after we introduced PYUSD we slowly started integrating ating them into the core businesses and our pipelines. Right? We first introduced it in Zoom in May 2024 for our crossber settlements and crossber business and then we did some B2B payments.
Um interestingly note we made a payment of 21 million uh P2P payments on one shot and Ethereum right and then we introduced PYUSD stable coin in payouts which is global payouts in our hyperwallet business. And recently uh in June 2025 we introduced rewards right while you are holding PYUSD you can earn a reward which is at 4% now potential floating rate but you can earn rewards you know having pyd holding pyd through the PayPal app right now there is this whole PI USD is there outside PayPal app as well right we have open architecture Sure we are there in uh four different uh blockchains which we'll discuss in some time but I want to take a step back and look at the backdrop in which we are innovating right and what we are looking for in this uh hackathon right so if you look at India India has been or India Asia in has been the best space to be in in trade commerce and fintech right uh it has been very fast-paced growth in ' 87 we had our ATM 95 are ECS clearing electronic check clearance 2005 NFT 2010 IMPS and 2016 UPI right and now we can't believe a world without UPI or in fact in other parts of Asia without Alipe scrap right do it in Thailand etc parallelly there has been there has been a lot of things happening in the decentralized space right just to connect the dots and observations 2009 we had our Bitcoin paper first exchange in 2010 2011 you know there are many exchanges open and closed so somewhere in the timeline in 2015 we had Ethereum general purpose blockchains coming up and then in 2015 to 16 we had the contract and then the stable coin was introduced sometime in 18 to 20 where now we are looking at close to 200 billion in stable coins various stable coins in in circulation which is a really large economy right I'm not trying to conclude anything here a lot of these are argumentative debatable but what what I would like to present here is the backdrop in which we are innovating right there has been talks about decentralization back in ' 80s as well right but it did not happen then because the backdrop and the technology was not ready we didn't have computing power that is distributed across the globe that can actually decentralize finance or economies right so it is important to understand the backdrop in which we are innovating Right. So that's why I had this slide just purely observation. Right. Um let me introduce you to the fear of the show.
Uh PayPal USD. Right. Uh it's one to one py USD backed by complete reserves in US dollars or interest bills. Right. Uh we have our custodian is taxes.
We separated PayPal and the custodian do not have any conflicts of interest. And we are present in four blockchains. Ethereum, Solana, Arbitum, and Stellar we released a week back, right? And we continue to expand our footprint. Um, it's 100% backed, low cost, 24/7, interoperable.
The important thing I want to say here is it's a programmable, multi-chain, and we continue to expand into multiple chains and it's fully regulated and approved by New York Department of Financial Services. Um and we also have AML transaction monitoring because we are in the commerce business exchanging for goods and services. So what are the opportunities ahead that we are looking for uh from the community in adopting PYUSD helping us grow and us helping you grow right we're looking at global money movement we're looking at financial inclusion also known as the unbanked how we bring the bring the unbanked community across the globe into uh the financial inclusive world right and then integrated settlements internet is an interesting concept I'm not sure how many of you read the paper of internet from NPCI. Uh Nandakhani had a paper on how to tokenize it, right? Um sorry guys, it's something specific to India, but it's a very interesting read on what you can tokenized and how a Technics economy can go forward.
And then we have we are looking at unique consumer experiences, creative products that you know from a PayPal lens we might not be able to think of, right? We have some of the best creative minds here in this forum. We're looking for creative products, integration between trade and D5, right? Um it is when we started integrating PayPal USD into our core businesses we realized it's not possible to exist as a parallel economy right we have to look at the best of both worlds and integrate trade and D5 any use cases there would be great unique banking experiences lending products right those are the opportunities ahead globally and this is what we're looking for uh from you guys right and why are we here uh we are here for two reasons one is socializing and helping in adoption of PYUSD and more importantly listening to the community. Right?
This is very very crucial because uh no one would have believed in early 2000s there would have been a trillion transaction payment volume economy possible just by community right there is no centralization no nation behind like we are looking at a volume at that. So community plays a very important role in DeFi world and we are here to listen to you feedback on any blockchains we can you are looking at Py USD into any features you're looking into probably it it can be anything right we are here to listen to you guys and understand and help you adopt PY USD in the easiest way possible right uh so you can look at the PayPal stable club you can sign in there we also have a stall right behind this workshop um to help you uh with your build your ideas, right? Um we also have our cloud faucets Google cloud faucets for Ethereum and Salana that gives you uh 100 py USD um as as you use the foret right uh all of this there in the document the QR code will be available in the stall and we can help you with uh anything to hack right um that's all I have the day guys good and any questions you might have you can come to the stall or I'll be here maybe after just we can have a chat. All right. Thank you for your time, guys.
Cheers. [Music]
Automatic transcript — names and jargon may be misspelled.