US FV Bank Adds PayPal’s PYUSD to Deposit and Payment Options
FV Bank has recently announced the integration of PayPal USD (PYUSD) into its direct deposit and outbound payment services, providing instant conversion to USD. As a fully licensed and regulated digital bank in the US, FV Bank offers a comprehensive range of traditional and digital asset banking and custody services.
According to the press release, PYUSD is now available for all FV Bank account holders. This addition to the stablecoin options allows users to receive PYUSD directly into their USD accounts, with automatic real-time conversion to USD. Additionally, users can make outbound payments in PYUSD, without the need to mint coins or manage an external digital wallet, simply by using their bank account.
The announcement emphasized that “clients can initiate PYUSD payments directly from their USD accounts, where FV Bank automatically debits USD, mints PYUSD on-demand, and delivers it near-instantly to the beneficiary.”
This expansion comes after FV Bank’s integration of the top two stablecoins in terms of market capitalization. It added Circle’s USDC in September 2021 and Tether’s USDT in December 2024. In total, the bank’s deposit options include USD, EUR, USDC, USDT, and PYUSD. It also enables users to send 13 different currencies from USD bank accounts through its local network or via SWIFT.
Integration with Blockchain Analytics Tools
FV Bank highlighted that PYUSD serves as a highly liquid and efficient stablecoin solution for clients’ direct deposit and instant payment needs. They noted that the ability to instantly convert PYUSD to USD and vice versa provides a seamless solution for global customers, reducing processing times and associated fees compared to traditional bank wires. Furthermore, the option is seamlessly integrated with blockchain analytics tools, enabling pre-screening and detection of transactions potentially linked to sanctioned entities or AML activities. This ensures the bank’s full compliance with regulations, which is especially important in regions with strict yet unclear crypto regulations like the US.
Miles Paschini, CEO of FV Bank, stated that “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.” FV Bank also expressed its intention to continue partnering with stablecoin providers to integrate stablecoin into the existing financial ecosystem, enhancing accessibility through wallets, exchanges, and payment networks. The team emphasized that “FV Bank is helping to achieve widespread stablecoin adoption by providing enhanced accessibility through its network of client services,” allowing clients to enjoy greater access to digital financial solutions, flexibility, and convenience for cross-border payments and settlements.
