YouTube has expanded its revenue payment methods for content creators in the U.S. In addition to the original bank transfer, creators can now receive revenue through PayPal's stablecoin 'PayPal USD (PYUSD)'. However, the revenue structure has not changed; only the method of fund delivery has changed.
This feature will be implemented in mid-December for U.S. creators who meet YouTube's monetization criteria. The payment connection with YouTube is achieved through PayPal's existing infrastructure, and the revenue earned by creators will be automatically converted from USD to PYUSD. PYUSD is not physical dollars but a digital asset pegged to the dollar, and its utility as a 'digital dollar' is increasing.
From the creator's perspective, this can accelerate settlement speed and provide room for diverse funding operation strategies such as foreign exchange custody or utilizing interest rate differentials. However, using stablecoins also requires consideration of additional factors such as virtual asset transaction fees and tax declaration complexities.
PYUSD is a self-issued stablecoin officially circulated by PayPal since last year, pegged to the dollar at a 1:1 ratio. The issuing entity is Paxos, a blockchain infrastructure company under PayPal. This collaboration with YouTube strengthens PYUSD's position as a payment currency and is significant for expanding the practical use cases of stablecoins.
Market evaluations suggest that this move could become the first experiment to promote the adoption of stablecoins in the creator economy. Notably, the method used is not a decentralized digital payment means, but rather a "permissioned stablecoin" managed by large financial institutions, applied to actual commercial transactions.
Article Summary by TokenPost.ai
🔎 Market Interpretation
YouTube's PYUSD payments serve as a substantial testing ground for stablecoins as a "dollar alternative" within the existing platform economy. Especially considering the collaboration between PayPal, which has a global user base, and YouTube, the potential for PYUSD's influence to expand is significant.
💡 Strategic Highlights
In the field of content monetization, the actual use trend of cryptocurrencies is emerging. If relevant functions extend beyond the United States, the use of virtual assets in the global creator ecosystem may officially launch.
📘 Terminology Explanation
PayPal USD (PYUSD): A dollar-based stablecoin issued by the American online payment platform PayPal, maintaining a fixed value of 1 PYUSD to 1 dollar (approximately 1,476 Korean won).
Stablecoin: A digital asset pegged to fiat currency or tangible assets, characterized by minimal price volatility.
TP AI Notes
The article has been summarized using a language model based on TokenPost.ai. The main content of the text may be omitted or inconsistent with the facts.
