PayPal moved over $1B in PYUSD between subsidiaries in an on-chain treasury pilot

Crypto News reported that PayPal ran a pilot moving more than $1B of PYUSD directly between dedicated on-chain wallets held by its own subsidiaries, a use case that report describes as intercompany settlement rather than trading. According to the same account, the transfers spanned three continents and cleared within hours instead of the days conventional settlement requires, with treasury staff working alongside PayPal's legal and accounting departments for the duration of the program. Crypto News also reports that PayPal treats stablecoin settlement as an extra channel running next to its banking relationships rather than a replacement for them, sitting inside a wider treasury overhaul that adds artificial intelligence automation and better liquidity visibility. The outlet puts PYUSD's supply above $3B and says PayPal has taken the token into roughly 70 markets with integrations across several blockchains, which it links to that supply growth. No other outlet has covered the pilot and the evidence carries no PayPal confirmation or on-chain data, so the $1B figure rests on one aggregator account.