We’re kicking off 2025 with an exciting update!
FV Bank has integrated PayPal USD (PYUSD) for direct deposits and outbound payments, providing enhanced financial management options for all account holders. This feature, now live, enables the direct receipt of PYUSD into account holder’s FV Bank USD accounts with automatic, real-time conversion to USD, alongside the ability to send payments in PYUSD anywhere in the world.
Direct PYUSD-to-USD Deposits
FV Bank customers can now deposit PayPal USD stablecoin directly into their USD accounts, which will be instantly and automatically converted to USD without additional steps. Customers can choose to deposit PYUSD on either the Ethereum or Solana blockchain, accessible under the deposit section of their FV Bank account.
PYUSD, issued by Paxos and backed 1:1 by USD deposits, is designed to offer a secure and compliant stablecoin solution for seamless transactions. The addition of PYUSD to our deposit capabilities benefits businesses and merchants globally. The addition of PYUSD into our deposit capabilities empowers global businesses, fintech platforms, and international merchants with streamlined, efficient solutions for cross-border transactions. It also serves SMEs, digital asset companies and individual customers requiring simplified stablecoin-to-fiat conversions for operational expenses.
This integration also enables customers to spend PYUSD using their FV Bank debit cards across 100+ geographies. Once converted and credited to the USD bank balance, the funds can be used for shopping, travel, and more.
Seamless Cross-Border Transactions
Beyond deposits, we also allow customers to send outbound payments in PYUSD directly from their USD accounts. This offers greater efficiency for cross-border payments and remittances, providing a highly liquid stablecoin solution.
The ability to instantly convert PYUSD to USD and vice versa reduces processing times and transaction fees compared to traditional wire transfers, making global payments faster and more cost-effective.
FV Bank’s PYUSD deposit and payment service is fully integrated with advanced blockchain analytics tools. These tools pre-screen transactions to detect and prevent links to sanctions or AML (Anti-Money Laundering) activities, ensuring complete regulatory compliance.
Expanding Payment Options
The addition of PYUSD complements FV Bank’s existing stablecoin integrations, including Circle’s USDC and Tether’s USDT. FV Bank account holders now have a comprehensive selection of deposit options, including USD, EUR, and stablecoins including USDC, USDT, and PYUSD. Customers can send payments in more than 10 fiat currencies and stablecoins including USDC and PYUSD, directly from their USD accounts.
CEO Miles on PYUSD integration
“The integration of PYUSD deposits and payments, along with auto-conversion to and from USD is another key accomplishment in our commitment to provide the most comprehensive integrated banking service for our global customers,” said Miles Paschini, CEO of FV Bank. “This additional deposit and payment option positions FV Bank as one of the only regulated banking institutions in the USA to offer blockchain-powered payment rails, as well as extensive stablecoin on-ramp and off-ramp services.”
Banking the Future
At FV Bank, we remain committed to innovation, security, and compliance. By partnering with leading stablecoin providers, we aim to support their integration into the global financial ecosystem, ensuring our customers have access to modern financial tools for efficient global payments.
Ready to experience the future of banking? Open an FV Bank account today and explore our latest stablecoin on-ramp and off-ramp services for seamless digital and traditional financial management.
Visit www.fvbank.us for more info!
