Xoom Enables PayPal USD as a Funding Option for Cross-Border Money Transfers
Xoom users will pay no transaction fees when using PayPal USD to fund eligible transfers to friends and family abroad

SAN JOSE, Calif., April 4, 2024 /PRNewswire/ -- Xoom, PayPal's cross-border money transfer service, announced today that U.S. users1 now have the option to fund money transfers to friends and family abroad using USD converted from PayPal USD (PYUSD), a U.S. dollar-denominated stablecoin2. Rolling out to customers in the U.S. starting today, the new funding option will allow U.S. Xoom users to easily convert the PYUSD in their linked PayPal Cryptocurrency Hub to USD and use that as a funding source to send money to recipients in approximately 160 countries globally with no Xoom transaction fees.3

Xoom's new option comes at a time when consumers are seeking cost-effective options for cross-border payments. According to the World Bank's Q3 2023 report, the global average cost of sending $200 is just over 6%. With no Xoom transaction fees,3  cross-border money transfers funded using USD converted from PYUSD provides a lower cost option on Xoom.

By introducing the option to fund cross-border money transfers with USD converted from PYUSD, Xoom now offers an easy and reliable way for U.S. users to send money abroad using PYUSD as a funding source.  When this option is selected, Xoom will convert the PYUSD in a U.S. user's PayPal Cryptocurrency Hub to USD currency with no crypto sale fee, and recipients will receive funds in the fiat currency selected by the sender.

"When we decided to bring PayPal USD to market, we had two objectives we wanted to achieve: create something that had a stable value to maximize user confidence and ensure it had utility for commerce and payments," said Jose Fernandez da Ponte, Senior Vice President of the Blockchain, Cryptocurrency, and Digital Currency Group, PayPal. "Enabling U.S. users of Xoom the option to fund cross-border money transfers using PYUSD builds on our goal of driving mainstream adoption of cryptocurrencies while also offering an easy way to securely send money to friends and family at a lower cost."

How to Fund Xoom Transactions using PYUSD

U.S. Xoom users1 with a sufficient PYUSD balance in their PayPal Cryptocurrency Hub to cover an eligible Xoom transaction will be able to select PYUSD to fund their transfer when using,, and the PayPal app. Users interested in funding transactions using PYUSD on Xoom can do so by following a few simple steps:

  • Tap the "Send Money" button
  • Select the destination country 
  • Choose how the money will get to your recipient (options vary by country) 
  • Enter your recipient's account or mobile wallet information, or choose a pickup location, and add your recipient's personal information 
  • Select PYUSD as your way to pay and confirm the sale of your PYUSD to USD to cover your Xoom transaction (the USD sale proceeds will go to your PayPal Balance and be used to complete the transaction)
  • Review the details of your Xoom transaction and slide to send (recipients will receive funds in the fiat currency selected by the sender)

Transactions that are not completed in USD are subject to a transaction exchange rate, which includes a currency conversion spread.

A pioneer in digital remittances, Xoom is a fast and easy way to send money, pay bills and reload phones for friends and family in approximately 160 countries globally. With Xoom, customers can access a fast and reliable way to send money, by simply downloading the Xoom or PayPal mobile app, or visiting or

PayPal, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Buying, selling, transferring, and holding cryptocurrency with PayPal is not available in Hawaii and where prohibited by law.

1PayPal USD is not currently available to residents of Hawaii.

2Issuance of and custody of PayPal USD is performed by Paxos Trust Company, LLC. Learn more in PayPal's Cryptocurrency Terms, and in the Paxos Terms that also apply to PYUSD.

3Transactions received in a currency other than USD are subject to an exchange rate, which includes a spread.

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