FV Bank‘s newly implemented feature allows customers to receive PYUSD directly into their U.S. dollar accounts, with automatic real-time conversion to USD. This aims to simplify cross-border transactions and eliminate the need for external wallets or the manual minting of stablecoins. Users can now send payments in PYUSD directly from their USD accounts, with the bank minting and delivering the stablecoin near-instantly to beneficiaries.
The addition of PYUSD is intended to streamline global payment processes by reducing costs and processing times typically associated with traditional banking methods. FV Bank CEO Miles Paschini noted that this integration reinforces the institution’s role as a regulated bank providing blockchain-powered payment rails and on-ramp/off-ramp stablecoin services.
FV Bank explained on Thursday that it has incorporated tools for compliance, including blockchain analytics for detecting and pre-screening transactions linked to potential sanctions or anti-money laundering activities. This ensures the service adheres to regulatory standards while enhancing security for its users.
This update builds on FV Bank’s history of stablecoin adoption, following the addition of Circle’s USDC in September 2021 and tether (USDT) in December 2024. The bank’s platform now supports deposits in USD, EUR, USDC, USDT, and PYUSD, and facilitates payments in 13 different currencies through local networks or SWIFT.
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