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PYUSD is used to expand TCS Blockchain's on-chain trade financing services in the freight industry
According to The Block, transportation trade finance provider TCS Blockchain has announced the integration of PayPal USD (PYUSD) to provide same-day financing and on-chain settlement for freight invoices.
Truck drivers can exchange invoices for TCS tokens, which can then be converted into PYUSD stablecoins, thereby avoiding the 30-180 day payment terms and over 30% revenue loss associated with traditional factoring companies. The company claims that this solution can reduce costs by 90%, with an expected annual processing volume exceeding $1 billion by 2026.
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