PayPal expands the use cases of its stablecoin PYUSD to provide funding support for AI development.

On December 19th, Cryptopolitan reported that payment giant PayPal announced a partnership between its stablecoin PYUSD and the Web3 protocol USD.AI to provide funding for artificial intelligence (AI) companies. USD.AI will utilize PYUSD to offer credit and financing services to AI companies for GPUs and data centers. The two companies intend to combine commonly used payment frameworks with programmable settlement to facilitate long-term credit, leasing, and upcoming agency-driven transactions. They also pledged a 4.5% interest rate on deposits totaling $1 billion as a customer incentive program to attract more customers. This incentive program will launch in early January and last for one year. (Source: Cryptopolitan)